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Category Archives: Household income

It’s only business investment which can save the economy

This is the substance of an economic forecast just released by the Ernst & Young ITEM Club. Whilst acknowledging that the UK may have been saved from a double dip recession by a ‘loose’ monetary policy, the ITEM Club believes that UK GDP growth will be a dismal 0.4% this year, before rising to 1.5% in 2013 and 2.6% in … Continue reading

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Large companies are swimming in cash, while consumers are drowning in debt

So says the Quarterly Economic forecast produced by the Ernst & Young Item Club. They forecast that UK GDP growth will be only 1.8% this year, but will rise to 2.3% in 2012 and 2.7% in 2013. Where will the growth come from? They believe that there will be a “major revival” in business spending and forecast that business investment … Continue reading

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Real household disposable income falls for the first time since 1981

Real household disposable incomes, which is income after tax has been taken out, and then adjusted for inflation, actually fell by 0.8% in 2010, according to the Office for National Statistics. This compares with a rise of 1.1% in 2009. This is the first fall for 30 years; the biggest fall since 1977; and only the sixth since records began … Continue reading

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Pensioners have been ‘hit particularly hard’ by the recession

Both pensioners and the poorest households have been badly hit by the recent recession, according to a report produced by the Institute of Fiscal Studies (IFS) and funded by the BBC. The IFS estimates that in the three years from 2008 to 2011 real household incomes will have fallen by 1.6%, or £360 per year. This means that households are … Continue reading

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Four-to-one gap between rich and poor in UK

The tax and benefit system is obviously working in the UK to redistribute income between the rich and poor, but is it working well enough?   When we look at original income, that is income received before the impact of tax and benefits, the top 20% of households in the UK in 2007-08 received approximately 16 times more than the … Continue reading

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