Spending power lacking in UK economy

Denver News.Net
Friday 4th July, 2008

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UK consumer spending power has fallen due to a large rise in the cost of living.

The Annual Discretionary Income Study says the average household is 15% worse off than it was five years ago.

After household bills and tax, the typical family had less than 20% of its gross income remaining, compared with 28% in 2003.

Big rises in household costs are far outstripping relatively modest wage inflation.

The report said that monthly discretionary income for a typical household was now £772.79, compared with £909.84 in 2003/04.

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