Monday, December 13, 2021

Things are tough

 The poorest half of the population have had their incomes squeezed by £110 since 2019.

The New Economics Foundation (NEF) also says that the richest 5% are better off by £3,300 a year.

Incomes in regions such as London have risen six times faster than those in the North East.

Disposable incomes in the North East of England have risen by just £20 a year on average, or 0.1%.

In the South East of England, however, incomes have jumped by £550

Single parents were the worst affected families across all regions. Those in Yorkshire and the Humber and the North West and Merseyside saw their incomes fall by around 15 times as much as those in London.

"With prices expected to continue increasing, the threat of a rise in interest rates and ongoing effects of Brexit, things could get a lot tougher for families that have already suffered most," said Alfie Stirling, director of research and chief economist at the NEF.

Half of UK families £110 a year worse off since 2019, report says - BBC News

No comments: