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Has the standard of living reduced in the UK?

Over the last two years, since the onset of the credit crunch and the recession, there is no doubt that UK consumers and UK businesses have struggled with their finances. We have seen, and continue to see, the cost of living in the UK move higher and higher with concerns about value for money and the future. But has the standard of living in the UK fallen over the last decade?

In simple terms what we have seen over the last 10 years is a further widening of the gap between the haves and have-nots which has caused controversy and concern amongst many people. While the general standard of living may well have increased for the vast majority of those UK this is not the case for everybody and those at the lower end of the income spectrum are arguably worse off today than they have been for many years.

There is no doubt that more and more people are now dependent on the state to cover everyday costs and with over 50% of the UK workforce effectively employed by the state, state dependence is something we all need to open our eyes to the future. So in general, the standard of living in the UK may have moved higher but this is not always the case for those at the lower end of the income spectrum.

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