Disposable income falls to lowest level for over a decade
Disposable income falls to lowest level for over a decade
Tuesday 26th August 2008
According to finance site uSwitch.com the average family currently has a disposable income of £14,250.
This is down 15 per cent from last year when the figure was £17,102 and means that consumers' spending power is now at its lowest for over a decade.
The increase is attributed chiefly to higher food and energy bills as well as below-inflation wage increases.
Ann Robinson, director of consumer policy at uSwitch.com, said: "It's been a year since the start of the credit crunch and these figures reveal the exact price being paid by British consumers. People now have less money in their pockets than at any point since 1997 and British consumers are facing an autumn of discontent.
"With UK emigration on the rise, they could be forgiven for selling up and moving abroad - except they will then be stung by falling house prices and a log jam in the housing market."
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