UK disposable incomes squeezed by price rises and tax changes
ONS confirms 0.6% GDP growth in first quarter, with services, production and construction sectors expanding Business live – latest updates UK households suffered a drop
ONS confirms 0.6% GDP growth in first quarter, with services, production and construction sectors expanding Business live – latest updates UK households suffered a drop in disposable incomes in the first three months of the year as price rises and extra wealth taxes hit average spending power. The Office for Statistics said a rise in the consumer prices index (CPI) measure of inflation in the first quarter and higher capital gains tax receipts reduced real household disposable income by 0.8% from January to the end of March. Continue reading...
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