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Guardian: £250k A Year? Gps Were Better Off In '66.

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'£250k a year? GPs were better off in '66':

http://money.guardian.co.uk/news_/story/0,,1758878,00.html

While overall figures show that the economy and average wages have grown steadily since the deep recession of the early 1990s, making Britain as a whole richer than ever before, the average hides big changes in who has managed to get what slice of the pie.

Research by the Guardian, using data from the Office for National Statistics, shows, for example, that teachers got 50% more than average pay in 1966 but now are barely above the average. This may help to explain why the supply of teachers has dwindled in recent years.

GPs are back in the news as their average pay has reportedly climbed towards £100,000. Their last officially recorded mean average of nearly £70,000 was nearly two and a half times the average salary. Forty years ago, however, they were earning three and a half times the average. The latest rises in their pay have been part of a deliberate policy by the government to address a shortage of doctors.

Factory workers earned 12% above the average wage in 1966, but now sit about 13% below it. Their bosses have fared much better. Figures for 1966 are difficult to obtain but research by the University of Manchester's business school shows that directors earned 10 times their workers' earnings in 1979, a figure that has now risen to more than 50 times.

That, of course, pales into insignificance compared with footballers. The average footballer was paid about £100 a week in 1966, the year the World Cup was won, and that was about five times average pay. Now the average premiership footballer is earning basic pay of £676,000, according to a survey by the Independent, although that can be doubled by performance-related bonuses. The basic figure is about 25 times the median average pay in Britain of around £23,000 a year.

So what are the forces that have been driving these changes in pay?

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  • 301 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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