Disposable income boost for economy

Southend Standard: Money to burn - Southend sees rise in disposable income from before the recession Money to burn - Southend sees rise in disposable income from before the recession

SOUTHEND has seen an above average increase in disposable household income according to new figures.

Households have over £2,000 more to spend than in 2007 – the tenth biggest increase in the country – according to a league table compiled by accountants UHY Hacker Young.

The list, put together using data from the Office of National Statistics, shows that after bills and taxes, the average Southend household has an annual disposable income of £16,347.

John Lamb, deputy leader of Southend Council, said it was good news for the town.

He said: “It shows that our economy has held up, and that while people have suffered some austerity measures, things are improving.

“It will help the economy as well when people spend that income in the town’s shops, for whatever their needs are.”

Aberdeen has seen the largest increase in spending money with an average household in the city having nearly £18,000 to spend a year.

A drop in mortgage costs due to record low interest rates is largely responsible for the national increase in spare cash, despite wages lagging behind inflation for years.

Mr Lamb added: “We have played our part in the improvement, keeping council tax low while other outgoings have increased quite considerably.

“We still have areas of depravation, but we are trying to help wherever we can.”

However, conflicting research by financial services provider Scottish Friendly claims that, with the costs of renting and energy bills increasing, workers are left with just £148 a month after bills.

Trish Carpenter, manager at Southend Citizens Advice Bureau, said: “If the economy is picking up that is great and will give people more capacity to cope with debt, but it is not an instant win for people we see.

“If recruitment increases and there are more jobs around, then that would help.”

Comments (9)

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1:19pm Thu 17 Apr 14

jayman says...

this story lacks any socio-economic contrast. would be interesting to see demographic data instead of cooked averages..
this story lacks any socio-economic contrast. would be interesting to see demographic data instead of cooked averages.. jayman
  • Score: 4

1:21pm Thu 17 Apr 14

emcee says...

What a load off bollo...............
...........
What a load off bollo............... ........... emcee
  • Score: 10

1:22pm Thu 17 Apr 14

Dissappointed says...

****!
****! Dissappointed
  • Score: 0

1:23pm Thu 17 Apr 14

Dissappointed says...

B0LL0X
B0LL0X Dissappointed
  • Score: 1

1:56pm Thu 17 Apr 14

CarnMountification says...

Now their rich, time to increase the local council taxes...
Now their rich, time to increase the local council taxes... CarnMountification
  • Score: -4

2:33pm Thu 17 Apr 14

CarnMountification says...

CarnMountification wrote:
Now their rich, time to increase the local council taxes...
.
[quote][p][bold]CarnMountification[/bold] wrote: Now their rich, time to increase the local council taxes...[/p][/quote]. CarnMountification
  • Score: -3

5:25pm Thu 17 Apr 14

jolllyboy says...

Never read such rubbish in my life. Who is he kidding. Just because it has been said that wages are rising with inflation - that's the bonuss that the average person doesnt get that is making the average. Bankers are still greedy and politicians still claim too much expenses. They still DO NOT GET IT and I doubt they ever will. This said by an unelected new leader..............
Never read such rubbish in my life. Who is he kidding. Just because it has been said that wages are rising with inflation - that's the bonuss that the average person doesnt get that is making the average. Bankers are still greedy and politicians still claim too much expenses. They still DO NOT GET IT and I doubt they ever will. This said by an unelected new leader.............. jolllyboy
  • Score: 3

12:02am Fri 18 Apr 14

Nebs says...

It's probably all the drug dealers in the area, bringing up the average.
It's probably all the drug dealers in the area, bringing up the average. Nebs
  • Score: 0

11:19pm Sun 20 Apr 14

profondo asbo says...

Nebs wrote:
It's probably all the drug dealers in the area, bringing up the average.
don't forget the benefit claimants....
[quote][p][bold]Nebs[/bold] wrote: It's probably all the drug dealers in the area, bringing up the average.[/p][/quote]don't forget the benefit claimants.... profondo asbo
  • Score: 0

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