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Spending power lacking in UK economy
Bombay News.Net
Friday 4th July, 2008
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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