Average household annual income in UK
The office of National statistics regularly release a number of very specific figures regarding UK income and one which proves very interesting is that of the average household annual income in 2006/07. The information shows that the top fifth of the households (by income) in the UK have an income which is 15 times that of the bottom fifth. In real terms this equates to an average of £14,000 a year for the bottom fifth of UK households against nearly £73,000 for the top fifth with a UK average of just over £30,000.
While this information is now one year out of date, as we await the new figures, it perfectly illustrates the massive difference in wealth across the UK. While the credit crunch will have impacted upon the average income of the top fifth households in the UK it will also have impacted upon those at the lower end of the scale, who depend on benefits and sporadic income streams to survive.
The problem for the government is the fact that the cost of living has moved higher at a rate which is faster than the growth in income streams. While those at the "top of the tree" have a cushion against what they earn and what they need, this is not something readily available to those at the lower end of the scale.
UK pensioners looking to unlock property equity
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Change your shopping habits to save a fortune!
There is no doubt that a significant chunk of any household income each month will go on food and clothing for the family. Even though there are other significant outlays such as gas, electric and water to name but a few, there are significant savings to be made by simply tweaking your monthly shopping habits.
Next time you are at the local supermarket, continue to shop as normal an...
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