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Biggest Squeeze on Household Incomes Since the Early 1980s
05/04/2011
It has been recently reported in the National Press that UK household incomes have fallen by 1.6% since 2008. The Institute for Fiscal Studies (IFS) research also stated that the poorest family incomes saw real income drop by 2.1% in the last 3 years.
Paul Johnson, the think-tank's director, said it is likely to be 2013 until incomes start rising. Given the current forecasting about earnings and the Government's plans for tax rises and benefit cuts over the next 2 years, real income is expected to continue falling. It will be the first time in 40 years that we will have experienced a 5-year period whereby incomes have not risen.
Homeowners aged over 55 years who are seeing a fall in income and would like to know how much money the value of their property could release to help, can find out by contacting therightequityrelease.co.ukfor equity release advice
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