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Family Incomes Drop by Up to 1,000 Pounds in 12 Months
03/06/2011
It was recently reported by the national press that the Institute for Fiscal Studies forecast that there will be the greatest fall in households take-home pay since 1981. Incomes are currently at the same level as in 2004/05, which due to the rising level of inflation, means that a family containing 2 children are likely to be £19 per week worse off (or £1000 per year).
This situation is likely to get worse once the Bank of England respond to the high inflation rates by increasing interest rates.
Homeowners aged over 55 years who are concerned about their level of 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.uk for equity release advice.
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