2010 to 2014 was the only five-year period where real disposable household income per head fell
2010 to 2014 was the worst five-year period for living standards since records began half a century ago, according to new analysis from the TUC.
The analysis, published today, compared five-year averages of UK disposable household income per head with the averages for the preceding five years.
It found that 2010 to 2014 was the only five-year period since records began in 1960 during which real disposable household income per head fell rather than grew compared to the preceding five years (2005-09).
Surprisingly, even during the height of the financial crisis from 2008 to 2012 there was a rise of 1.5 per cent on the preceding five-years (2003-07).
The TUC said the figures were further evidence that the coalition’s austerity programme was more to blame for the loss of living standards than the financial crisis that preceded it.
“Living standards have suffered the worst slump in at least half a century, leaving workers paying a heavy price for the government’s bad choices over the last five years,” said TUC general secretary Frances O’Grady.
“Conservative plans for extreme austerity after the election risk killing off the recovery again,” she added. “It would be Groundhog Day for living standards, making families worse-off and cutting public services down to a stump.”
James Bloodworth is the editor of Left Foot Forward. Follow him on Twitter
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43 Responses to “2010 – 2014: the worst five-year period for living standards since records began”
TN
If the TUC had their way the economy would be going through another Winter of Discontent with their fantasy economics. That bucktooth donkey O’Grady and her ilk have views on the economy that would cripple businesses, punish aspiration and actually destroy jobs rather than protect them. Always banging on about living standards, when they don’t even speak for working people across different sectors.
Why am I not surprised LFF would jump on this story? Maybe the markets are actually spooked by the hideous prospect of a Labour/SNP coalition in a few weeks. Labour will cause stagnation, and the SNP want to turn Scotland Venezuela while holding England to ransom. Job losses and benefit scrounger galore.
TN
The TUC claims that they’re not partisan, but that couldn’t be further from the truth.
This story is just like the AAA rating loss a couple of years ago. Labour and the centre left pounced on it like hawks, despite the overall growth that followed in 2014.
TN
True. Of course Left Foot Forward, like the TUC, could never dream of bashing precious Labour and it’s oh so progressive centre left ways which will deliver prizes to all….Maybe in Fantasy Land where there’s rivers of chocolate, gold growing from the soil and of course that scared magic money tree.
TN
True. Of course Left Foot Forward, like the TUC, could never dream of bashing precious Labour and it’s oh so progressive centre left ways which will deliver prizes to all….Maybe in Fantasy Land where there’s rivers of chocolate, gold growing from the soil and of course that scared magic money tree.
Gerschwin
Absolutely, if the TUC says the earth is flat and I say that’s biased then by relying on logical fallacy that the TUC is a biased source then by definition it must necessarily be true that the world is indeed flat…except er….it’s not …welcome to the warped logic of the left.