Family spending power fell in annual terms every month of 2010
Extract from Rebecca Smithers Guardian.co.uk, Thursday 27 January 2011 12.43 GMT
“Further confirmation that UK families are being crippled by the biggest squeeze on their finances since the 1920s was revealed today, as a major retailer reported the largest ever drop in households’ monthly disposable income since the exercise began. The first regular Income Tracker of 2011, published this morning by supermarket Asda and relating to figures before the impact of the increase in VAT to 20%, showed that in December 2010 family spending power fell by £8 a week – the biggest fall on record.
The average family had £172 a week to spend in December, down from £180 this time last year, the new figures show.
At the same time, for 2010 as a whole, average weekly household disposable income was £4 below the average level for 2009 at £178 – a 2.2% decrease”
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