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Great News! Pay Keping Pace Or Even Beating Inflation!

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Phew! Mystic Merv nearly had a heart attack until he realised that only the right kinds of people were getting inflation busting pay rises:

Grauniad

The directors of Britain's largest companies have secured above-inflation pay rises and larger than normal bonuses this year in a rush to make up for the recession pay freeze.

Increases for main board directors in FTSE 100 companies in 2011 are typically between 2.5% and 7.5%, with a median of 4%, according to research by accountants Deloitte, while FTSE 250 rises average 3%. The numbers suggest that the pay gap between company directors and their staff has widened in the latest round of salary rises.

Directors' settlements were well above the average private sector pay awards of 2.5% reported by Incomes Data Services, the pay analysts, in August. Wages for workers are lagging inflation, which reached 4.4% in July, as measured by the consumer prices index.

Yes, suppressing interest rates and boosting the money supply via the printing presses is certainly is having the right results (for those at the top). Though I see that the markets are lagging a bit now that US QE2 has ended so about time for more of the good, good stuff ...

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And for everyone else there is Barclaycard fk all.

Yep and the peasants better keep quiet and take it too.... you dare go out and riot about it, you'll get a longer spell inside that most pedos.

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Kunt & co have injected moral hazard by the truck load into the system, an eye on the banksters and how well they have gamed the system other executives want their own little piece of the pie - expect investors and investment as a result to suffer.

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We might say it's taking the piss- but economists will tell you it's trickledown- they know who pays their wages. :lol:

Mugs 'n Bladdered

Edited by erranta

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The report says Britons are living through 'one of the worst decades for changes in living standards since at least the Second World War.'

Between 2003 and 2007, it says, the average family's income after tax grew by around 0.5 per cent a year.

During the recession, which began in 2008 and ended in 2009, the average net household income continued to grow by around 0.6 per cent a year.

Recession is defined as two consecutive quarters when the economy contracts and this recession lasted for 18 months.

But the end of the recession did not mark the end of the pain, according to the IFS.

In fact, it says a typical family was hit by a real fall in their income after tax of 3.5 per cent during the latest tax year 2010/11, wiping out the previous increases.

This represents the biggest drop in a single year since 1981, a sign of the pain being felt by hard-working families around Britain.

Research: Robert Joyce at the IFA was one of the report's authors. He said that recession will cast a very long shadow in the UK

As a result, families' income after tax is the same as it was nearly a decade ago in 2003/04.

To make matters worse, the IFS predicts the 'declines in living standards look set to continue until at least 2013/14.'

It blames a long list of problems including paltry pay increases, rising inflation, soaring households bills, tax increases and benefit changes.

Robert Joyce, research economist at the IFS and one of the report's authors, said: 'The current economic downturn began more than three years ago, and may seem like old news.

'But, as in other developed countries, the most severe consequences of the recession on UK living standards have only just begun to be felt. And they will continue to be felt for years to come. The Great Recession looks set to cast a very long shadow in the UK.'

The IFS said the Government's tax and benefit changes are having a huge impact on families, and the 'less well-off' are being squeezed more than higher earners.

http://www.thisismoney.co.uk/money/news/article-2036393/UK-households-suffer-biggest-attack-finances-war.html

Edited by erranta

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  • 334 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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