UK household disposable income falls for first time in 30 years
Mar 31st 2011, 12:37 pm
#1
Daffyd Duck
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Joined: Jul 2008
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UK household disposable income falls for first time in 30 years
http://www.guardian.co.uk/uk/2011/ma...-fall-30-years
Real household disposable income falls for the first time in 30 years
Real household disposable income falls for the first time in 30 years
Britons' take-home pay fell for the first time in three decades after prices rose faster than incomes last year, dealing a further blow to the prospect of an economic recovery.
Less than a week after George Osborne, the chancellor, downgraded the UK's growth forecasts for 2011 in his budget presentation, figures revealed that real household disposable income – the total income of Britain's working and unemployed populations after taxes and adjusted for inflation – dropped by 0.8% in 2010, according to the Office for National Statistics (ONS).
The figures also showed that the decline is likely to accelerate to about 2.0% this year and flatten in 2012 as the biggest public spending cuts since the second world war begin in earnest, according to Vicky Redwood, of research group Capital Economics.
Less than a week after George Osborne, the chancellor, downgraded the UK's growth forecasts for 2011 in his budget presentation, figures revealed that real household disposable income – the total income of Britain's working and unemployed populations after taxes and adjusted for inflation – dropped by 0.8% in 2010, according to the Office for National Statistics (ONS).
The figures also showed that the decline is likely to accelerate to about 2.0% this year and flatten in 2012 as the biggest public spending cuts since the second world war begin in earnest, according to Vicky Redwood, of research group Capital Economics.
Mar 31st 2011, 1:38 pm
#2
BE Enthusiast
Joined: Jul 2008
Posts: 823
Re: UK household disposable income falls for first time in 30 years
And some people want to move back there?
Mar 31st 2011, 4:29 pm
#3
Home and Happy
Joined: Dec 2002
Location: Keep true friends and puppets close, trust no-one else...
Posts: 93,817
Mar 31st 2011, 5:38 pm
#5
Happy migrant
Joined: Oct 2006
Location: Newcastle , NSW
Posts: 6,756
Re: UK household disposable income falls for first time in 30 years
http://www.guardian.co.uk/uk/2011/ma...-fall-30-years
Real household disposable income falls for the first time in 30 years
Real household disposable income falls for the first time in 30 years
Mar 31st 2011, 5:54 pm
#6
Daffyd Duck
Thread Starter
Joined: Jul 2008
Location: Paradise
Posts: 5,636
Re: UK household disposable income falls for first time in 30 years
oh please do us a favour
aLL whingers should go back to UK . . . NOW
WHILE the rest of the developed economies are staging a strong economic rebound....
Consumers remain pessimistic about economy
http://www.guardian.co.uk/business/2...-about-economy
Consumers under pressure: mortgage defaults rise and high street profits fall
http://www.guardian.co.uk/business/2...h-street-slump
aLL whingers should go back to UK . . . NOW
WHILE the rest of the developed economies are staging a strong economic rebound....
Consumers remain pessimistic about economy
http://www.guardian.co.uk/business/2...-about-economy
Consumer confidence remains in the doldrums after failing to recover significantly after its biggest monthly drop in nearly 20 years, a survey published on Thursday revealed.
Confidence stood at minus 28 in March in the latest survey by GfK NOP Social Research which said it "stagnated at depths seldom seen outside of actual recession".
The reading saw an "astonishing" eight-point drop in January to minus 29, the biggest monthly fall since the 1992 recession, and it has now stayed at its current level for the last two months.
Confidence stood at minus 28 in March in the latest survey by GfK NOP Social Research which said it "stagnated at depths seldom seen outside of actual recession".
The reading saw an "astonishing" eight-point drop in January to minus 29, the biggest monthly fall since the 1992 recession, and it has now stayed at its current level for the last two months.
http://www.guardian.co.uk/business/2...h-street-slump
The number of people defaulting on their mortgage has jumped unexpectedly in the last quarter, the Bank of England reported in its latest credit conditions report (pdf). Lenders believe the rate of defaults is likely to rise again during the next three months and fear that a rise in interest rates could leave many more mortgage holders unable to meet their monthly repayments.
The credit survey also found that more small businesses were defaulting on their loans as the UK economy weakens.
The credit survey also found that more small businesses were defaulting on their loans as the UK economy weakens.
Last edited by commonwealth; Mar 31st 2011 at 5:59 pm.
Mar 31st 2011, 6:11 pm
#7
Daffyd Duck
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Joined: Jul 2008
Location: Paradise
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Re: UK household disposable income falls for first time in 30 years
there are many job ads these days i'm sure you'll find one. and that's based on my personal job hunting experience
meanwhile in the UK, unemployment is expected to continue to rise from 2.53 million throughout 2011 and into 2012
http://www.guardian.co.uk/business/2...economists-say
the Tories need a Plan B . . . NOW!
Mar 31st 2011, 9:21 pm
#8
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Posts: 10,994
Re: UK household disposable income falls for first time in 30 years
If you want to quote selected surveys you'll find plenty of pessimistic ones regarding the Aus economy too...for months negative readings from construction, manufacturing, consumers etc.
There are also positive ones from the UK too, but I wouldn't expect you to quote those - service sector numbers this week?
Yes it's (the economy) better here, but try having just a bit of balance.
There are also positive ones from the UK too, but I wouldn't expect you to quote those - service sector numbers this week?
Yes it's (the economy) better here, but try having just a bit of balance.
Mar 31st 2011, 11:16 pm
#9
BE Enthusiast
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Posts: 823
Re: UK household disposable income falls for first time in 30 years
In my sector of employment yes. Wages are much higher here on average than the UK, some professionals find they don't receive quite so much, but most people are better off in Australia finance wise
Apr 1st 2011, 12:29 am
#10
Proudly Deplorable
Joined: May 2003
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Posts: 24,246
Re: UK household disposable income falls for first time in 30 years
If you want to quote selected surveys you'll find plenty of pessimistic ones regarding the Aus economy too...for months negative readings from construction, manufacturing, consumers etc.
There are also positive ones from the UK too, but I wouldn't expect you to quote those - service sector numbers this week?
Yes it's (the economy) better here, but try having just a bit of balance.
There are also positive ones from the UK too, but I wouldn't expect you to quote those - service sector numbers this week?
Yes it's (the economy) better here, but try having just a bit of balance.
Apr 1st 2011, 12:36 am
#11
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Location: Melbourne
Posts: 10,994
Re: UK household disposable income falls for first time in 30 years
It wil be interesting to see what affect the UK government's tax cut on new investment will have? I've always said that the UK will recover at some point in the future, but they are going to have to reinvent their economy. People there are generally very pessimistic though in my experience.
Apr 1st 2011, 12:45 am
#12
Bitter and twisted
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Re: UK household disposable income falls for first time in 30 years
That depends on who you talk to.
My sister is due to visit here this weekend following spending several weeks in NZ....they will be in Australia for another few weeks travelling round.....before they went to NZ they had a seven week cruise round Asia before returning to the UK to fly to NZ.
My BIL and SIL have just returned to the UK after a seven week tour of Australia.....they will be off to Canada soon.
None of my family or friends have been affected. I sometimes wonder just who is suffereing
My sister is due to visit here this weekend following spending several weeks in NZ....they will be in Australia for another few weeks travelling round.....before they went to NZ they had a seven week cruise round Asia before returning to the UK to fly to NZ.
My BIL and SIL have just returned to the UK after a seven week tour of Australia.....they will be off to Canada soon.
None of my family or friends have been affected. I sometimes wonder just who is suffereing
Apr 1st 2011, 12:48 am
#13
Possum. Amiculum. Latrina
Joined: Jan 2011
Location: Footloose
Posts: 3,427
Re: UK household disposable income falls for first time in 30 years
People I know will say the situation is bad, but also no one I know has been badly affected, they continue to move jobs (of their own accord) for better money etc., same as before. The numbers speak for themselves though, you can't possibly claim its rosy, and I'm not. I also don't buy into one sided assessments of the Australian economy though...I think the government made some bad decisions in its handling of the GFC which made things look great at the time but have actually saved up worse trouble for later.
2011 is likely to be the most austere year for the UK so it isn't surprising the media are pedaling doom and gloom over there - but it's no different to the States and most of Europe who are in the same boat.
The Australian economy is far from being invulnerable - the government hasn't done enough to curb inflation and allows a vast amount of gain from mineral wealth to leave Aussie shores. Export markets, other than US$ denominated minerals are dead and tourism is on its arse. Is there a reason why bringing down the value of the AUD wouldn't work? I might be missing something but it looks sensible.
The only way Australia will continue to prosper is if we are looking at a resource grab to the death - which is quite possible given the ever increasing rate of population increase and carbon emissions. In which case it won't matter anyway!
Last edited by Turban Explorer; Apr 1st 2011 at 12:50 am.
Apr 1st 2011, 12:52 am
#14
Proudly Deplorable
Joined: May 2003
Location: Alloha snack bar
Posts: 24,246
Re: UK household disposable income falls for first time in 30 years
That depends on who you talk to.
My sister is due to visit here this weekend following spending several weeks in NZ....they will be in Australia for another few weeks travelling round.....before they went to NZ they had a seven week cruise round Asia before returning to the UK to fly to NZ.
My BIL and SIL have just returned to the UK after a seven week tour of Australia.....they will be off to Canada soon.
None of my family or friends have been affected. I sometimes wonder just who is suffereing
My sister is due to visit here this weekend following spending several weeks in NZ....they will be in Australia for another few weeks travelling round.....before they went to NZ they had a seven week cruise round Asia before returning to the UK to fly to NZ.
My BIL and SIL have just returned to the UK after a seven week tour of Australia.....they will be off to Canada soon.
None of my family or friends have been affected. I sometimes wonder just who is suffereing
I know people who are saying 'what recession?'
I know people who are treading water
I know people who's world has fallen apart
Apr 1st 2011, 12:54 am
#15
Joined: Jan 2005
Location: Asia Pacific
Posts: 4,922
Re: UK household disposable income falls for first time in 30 years