Britain in the red: Income falls short of spending under Tory government
Jack Peat - 5 September 2018
Average household income has fallen short of spending in every quarter since May became Prime Minister, new research has found.
The TUC study reveals that households have been pushed £1,250 into the red during her time in charge.
In every quarter since May’s arrival in Downing Street (2016 Q4 to 2018 Q1), families’ outgoings have outstripped their incomes – resulting in a total deficit of £34 billion.
As she took office, May promised to support “just about managing” families. But this analysis shows that the pressure on household budgets has increased under her government, pushing “JAMs” even closer to the financial cliff-edge.
In 2017, the ONS reported a calendar year shortfall of £900 per household, the first time in 30 years that the average household has spent more than it brought in.... See more
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