Monday, September 12, 2011

Living Standards 'Set To Fall'

Belper News

A typical family will see their living standards fall by more than £4,600 a year by 2013 because of public service cuts, benefit changes and below-inflation pay rises, the TUC has warned. A report, Unhappy Families, said an average-income single parent living in London with two children will lose the most, seeing their salary reduced by 10%, while a high income, two-earner family living in the South East with three children will lose the least at 6% of their pay. The study, published ahead of next week's TUC gathering in London, warned that living standards had fallen more than at any time since the 1970s

He said the TUC is meeting at a "crucial" time, adding: "The Government is starting to lose its central argument on the economy. A year ago we were told that everything was set for recovery. Yet here we are 12 months later facing a real prospect of a double-dip recession. "Trying to eliminate the deficit in just four years can now be seen as nothing more than a national program of self-harm. It has killed both consumer and business confidence. With the cuts already putting the brake on Government investment, the net result is that almost no-one is investing. Yet without growth there is no prospect of closing the deficit gap in the short, medium or long term."

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