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
43 Responses to “2010 – 2014: the worst five-year period for living standards since records began”
Leon Wolfeson
So you are in complete denial of the economic figures. Sad.
Or perhaps talking about your home country, not the UK.
Leon Wolfeson
The story that it’s taken until now to show growth – which is due to a bubble in the city and high housing prices, not to mention oil prices which are unlikely to stay *this* low….
All from a depression which was created by the Coalition.
Paul Lobel
It was supposed to, wasn’t it, else what is the point of ‘austerity’? We were, and are, living beyond our means with the help of payday loans for low credit score as a nation, somewhere belts have to be tightened and so far (might I suggest politicians, bankers,tax dodgers, all other over-paid, under-worked criminals), it just hasn’t been tightened enough!