Only structural steps, the study says, can raise annual GDP growth to 3 per cent - the level it says is required for standards of living to stabilise.

I.e we will stabilise (i.e. keep the same) your income if you allow us to cream the 3% growth off the top.  Any less growth than that, and the only way we can get our 3% of the top is by gouging into your share and reducing your living standards.  It's the math stupid!  

"It's a mystery to me - the game commences, For the usual fee - plus expenses, Confidential information - it's in my diary..."