Disposable income down, finds report
www.moneynews.co.uk > General finance > Disposable income down, finds report
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Money News |
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Disposable income down, finds report
Mon 8th Oct 2007
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Rising taxes and a general increase in living costs has left Britons with less money to do with as they like.
Since 1997 household costs have risen by 42 per cent and tax has grown by 85 per cent, the uSwitch survey found.
Mike Naylor, Personal Finance expert at uSwitch.com, said: "Cool Britannia is now Cost-a-lot Britannia.
"Our pay cheques may be getting fatter, but the chunk that we have to hand over to pay taxes, bills and other living costs is growing even faster."
Though Britons are working harder, they are not getting any richer and are "running just to stand still", Mr Naylor added.
Council tax alone has risen by 92 per cent in the last decade.
Currently the base interest rate is at 5.75 per cent, though that has been widely predicted to climb before the year is out.
Related News : General finance |
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