Wednesday, October 26, 2011
Well done Merv. Xmas cards from your banker chums this year.
Families are Â£15 a week worse off than this time last year: 'It's the biggest squeeze in living memory,' says King
.Cost of living squeeze is said to be the longest and deepest for at least 60 years .Average weekly household income after tax at Â£597 .King: CPI inflation rate of 5.2% 'very uncomfortable' The annual drop in spending power of Â£780 from taxed income, according to the monthly Asda Income Tracker. Yesterday the governor of the Bank of England, Sir Mervyn King, said workers in Britain have been hit by the biggest fall in living standards â€˜in living memoryâ€™. The Â£15 drop in weekly spending power is the biggest in the four-year history of the study, while the current cost of living squeeze is said to be the longest and deepest for at least 60 years