Families in Britain are £20,000 worse off than 20 years ago, report warns
Families in the UK are tens of thousands of pounds worse, because of their sharp declining living standards for twenty years, a new report.
If the findings of the Solution Foundation had continued to grow in 2005, a typical household would be £ 20,000 today.
Effective Thinking Tarker finds that revenues for working age families have grown only seven percent in the last 20 years. Meanwhile, foundations such as energy, food and rents increased by 120 percent in the same period.
This stagnation level “has not been seen in modern times,” says the foundation, the findings on the 20th anniversary.
Growth from 1995 to 2005 was recorded as 35 percent. If this continued, the typical family income today will be £ 51,000, but £ 31,000.
This will be equal to the extra 394 £ for the average worker each week.
Income growth level has changed between groups, retirement income increased by 21 percent and increased by 14 percent of the owner workers. Meanwhile, the income of working age families in special rented accommodation increased only four percent.
Ruth Curtice, General Manager of the Solution Foundation, says that “the terrible efficiency of the UK economy” is an important factor with “inadequate investment in public and private sectors for years”.
Thinking tank says that the middle revenues in the UK are 19 percent lower than the average in Australia, Canada, France, Germany and the Netherlands.
Curtice said: “In the last 20 years, Basic has helped to put the living standards at the center of political debates in the UK. And here, the scale of the slowdown of living standards throughout England, which costs the typical family annually.
“When we look forward, the task of raising the standards of living in the UK is greater than ever – we cannot get more stagnation. This makes the foundation’s work even more urgent as it doubles the efforts to force the growth of sustainable family income.”
The findings come because food and beverage prices in the UK are confirmed on Wednesday for the fifth month in a row.
The title inflation rate of August (CPI) is 3.9 percent of the firm, while the food inflation rate rose from 4.9 percent to 5.1 percent in July.
Rachel Rachel Reeves, who responded to the figures, said, “I know that families find it difficult and that many economies are stuck. So I am determined to reduce costs and support people who encounter higher bills.”
Among the foodstuffs, beef and beef meat had the greatest increase in the price with an increase in quarter (24.9 percent) in the last 12 months. While butter saw the next highest increase at 18.9 percent, both chocolate and coffee increased by 15.4 percent.
The stagnant income increase in England, which is matched with the increasing cost of the foundations, forced millions of people to cross. Food Charity Trussell’s recent report found that 14 million people, including one of four children (3.8 million), faced hunger.
According to Thursday, the comparison site USWitch found that two million households planned to avoid using central heating this year due to increasing energy costs due to an increase of 22 percent last year.
A Treasury spokesman said: “As the chancellor emerged clearly, our economy is not broken, but it feels stuck for working people. Thanks to our change plan – we expand the national life fee, 3 bus fees are expanding the cover and we expand more money to create a more stable economy to create a more stable economy to prevent difficult work.
“Since the election, we have made progress: Real wages, more than a decade ago, after investment and stagnation increased more than the first decade of the previous government, interest rates were cut five times and the UK had the fastest growth in the G7 in the first half of this year.”
