Imperial Party forum

thomas davison

The 'lost decade' for family finances: Recession means the average Briton has the same disposable income as in 2003
By Becky Barrow
PUBLISHED: 02:12, 1 August 2012 | UPDATED: 03:02, 1 August 2012

Families have the same amount of money to live off today as they did nearly ten years ago, an official report shows.
The average Briton had a disposable income of �3,620 for the first three months of the year � the same figure, adjusted for inflation, as in 2003.
The numbers are worrying because, historically, workers can expect their incomes to keep ahead of inflation.
Worrying: Families have the same amount of money to live off today as they did nearly ten years ago, an official report shows
Many families will be even worse off than they were a decade ago because their food and fuel bills have soared well beyond the official rate of inflation.
The figures, from the Office for National Statistics, highlight the crippling impact of the worst downturn in a century.
Disposable income has fallen 1.1 per cent from the last three months of 2011.
Not good: Disposable income has fallen 1.1 per cent from the last three months of 2011
A spokesman for the Consumer Credit Counselling Service, a debt advice charity, said: �While everybody knows that household incomes are being squeezed, few would expect to have not made any progress in a decade.
�It is pretty disheartening to think that ten years of hard work has not left people in a better position. It has, in effect, been a lost decade for them financially.�

The disposable income figure reflects what the average individual has left after tax and pension contributions. It has been adjusted for inflation.
John Wilkinson, head of protection and investments at Nationwide, said: �The statistics are a fresh blow to cash-strapped households struggling to climb out of the economic turmoil of the double-dip recession.
�By the time they have paid their household bills and other essential items, it means they have little left to consider saving for their future, including family holidays and their retirement.�

Howard Archer, of the consultancy IHS Global Insight, said the tight household finances would restrict economic growth.

Amazing really, Politicians mess up big time and we are the ones paying the price. Wonder if Blair, Brown and the rest of the Labour Cabinet that served for 13 years are suffering the same fate as the rest of us. I think not. Until Politicians are held to account for the catastrophic mess they make whilst running the Country things will never change and the rest of us will continue paying the price for their egotistical, arrogant and totally irresponsible attitude.

The Uk has a bloated and richest public sector in the world, 25% os our workforce work in the public sector, one for every three workers, with the highest pay and taxpayer funded plated inflation proof pensions for life. It is printing money to pay for the lifestyle of the state while draining the productive economy. This has bankrupted greece and Spain, Italy and France will follow. We can print money but this devalues the pay and savings for the private sector that pay the taxes to support the state.
The banks and the way they do business has a lot to do with the way we are at the moment, a state bank not a private one like the bank of england, is needed where the profits go back to the people , infact the whole system needs to be changed.
Get out of the EU, send back all those who should not be here, start manufacturing again, nationalise water. gas. electricity and rail, stop overseas charity payments and just watch the UK come back to life.