Captain Haddock wrote:Austerity/Aushmerity
The median UK household disposable income was £26,300 in the financial year ending 2016 (2015/16); this was £600 higher than the previous year and £1,000 higher than the pre-downturn value of £25,400 in 2007/08 (after accounting for inflation and household composition).
Let's think about 1% year-on-year from 2007/8. If we take your given 2007/08 figure of £25,400 p.a.
2008/09 £25,400 + 1% (£254)
2009/10 £25,654 + marginally below 1% (£256)
2011/12 £25,910 + marginally below 1% (£259)
2012/13 £26,196 + marginally below 1% (£261)
2013/14 £26,457 + marginally below 1% (£264)
2014/15 £26,721 + marginally below 1% (£267)
2015/16 £26,988 + marginally below 1% (£269)
Now, I think you'd agree that less than a 1% increase year on year is not keeping up with the cost of energy, council tax, fuel, rail fares...the general 'cost of living'. I also think then £26,988 is a bigger number than £26,300 - does that help you understand the reality of austerity?
