Figures out today show that despite the economy being in recovery disposable income remains stuck where is was in 2005, reflecting real falls in wages.
Figures out today from the Office for National Statistics (ONS) show that despite the economy being in recovery disposable income remains stuck where is was in 2005, reflecting real falls in wages.
But the figures cited by the chancellor were for total real household disposable income, a rise which has been largely driven by population growth rather than by rising living standards.
Figures published today actually show that real household disposable income has fallen dramatically since 2009, and still remains at a level first achieved in 2005.
Commenting on figures, TUC General Secretary Frances O’Grady said tomorrow the chancellor was “likely to repeat his claim that disposable incomes continue to rise. But official figures prove this is nonsense”.
“The figures used by the chancellor are meaningless to ordinary people who are concerned about their own money, rather than that of the nation. After all, you can’t pay the energy bills with other people’s pay packets,” she said.Like this article? Sign up to Left Foot Forward's weekday email for the latest progressive news and comment - and support campaigning journalism by becoming a Left Foot Forward Supporter today.