Can this be a coincidence?

The horror of it. Imagine going back to the deprivation and poverty of 2005!

Bit early for biscuits or cake. Who’s for a croissant?

*grabs croissant whilst Flashy can still afford them*

Imagine going back to the deprivation and poverty of 2005

I’m fairly sure the article isn’t saying that at all. It appears to be saying 2005 income levels, and 2011 prices, so presumably a far worse situation than 2005.

It definitely says “the biggest drop in income for 30 years” though. And of course we all know who was in government 30 years ago. What a funny coincidence.

ernie – that’s definitely how I read the article. It pains me that people aren’t able to interpret this information and realise how it’s actually going to impact them.

Are petrol prices at 2005 levels? Are we going to see deflation in the next 6 months to a year? Come on people… wise up.

They usually adjust those figures for inflation, but it doesn’t read like that. You’d have to go back to the actual report.

I’m surprised the save-the-planet lot aren’t hailing this as a great success. Fuel sales are down 20%. I assume pointless crap you don’t need sales will fall too.

It also found that overall income inequality had not improved, remaining near its highest level since records began in the 1960s

That’s New Labour for you.
Oh and….Things aren’t gonna get better!

Back to 2005?

GREAT! I was earning LOADS more then than I am now!

It’s all Stalin’s fault

IFS research economist Wenchao Jin said

Average living standards rose over the recent recession, likely to be driven by large increases in benefits and tax credit rates.

Wonder what the next target will be????

I was earning LOADS more then than I am now!

Well it probably won’t effect you then. This is about people’s incomes going down, not up :

“The respected Institute for Fiscal Studies forecast that when official statistics are published next year, they will show that Britons have experienced the largest fall in takehome pay for the average family since 1981”.

Family incomes plunge by £1,000 a year

meanwhile in GDP land…

Oh and….Things aren’t gonna get better!

Thank you for pointing out the bleedin obvious. 😉

meanwhile in GDP land…

Oh and….Things aren’t gonna get better!
Thank you for pointing out the bleedin obvious.
The success of Germany is often attributed to the Germans not having a pay rise in 10 years.

“The respected Institute for Fiscal Studies forecast that when official statistics are published next year, they will show that Britons have experienced the largest fall in takehome pay for the average family since 1981 the last time we had to deal with the effects of Labour’s financial incompetence“.

FTFY

No pay rises for 10 years ? ….. I didn’t know that.

Well I’ve just checked and it would appear that between 2000 and 2009, Germany’s GDP grew by 18.4%, whilst in the same period that of the UK 17.7%.

So that’s a 0.7% difference then………I had no idea that “no pay rises” had so little effect on the economy.

Did you know that was the argument you were making ?

FTFY

Well you haven’t fixed it at all. “Since 1981” is perfectly correct.

And what’s more if you were fixing it, you weren’t fixing it for me – you were fixing it for thisismoney.co.uk ‘financial website of the year’…..it was their quote not mine.

What I think you are trying to say cranberry, is that like in 1981, the Tories, and you, want to blame everything on Labour……..there, I think I’ve fixed it for you 8)

The success of Germany is often attributed to the Germans not having a pay rise in 10 years.

This is one of the most hilarious things i’ve seen on STW in a long time. Perhaps you should add it to the comedy one-liners thread?

The respected Institute for Fiscal Studies forecast that when official statistics are published next year, they will show that Britons have experienced the largest fall in takehome pay for the average family since 1981, the last time a conservative government set about an idealogical agenda”.

FTFY.

I do find “The success of Germany is often attributed to the Germans not having a pay rise in 10 years” a laughable statement.
Evidence?

I thought it was due to a cooperative approach to industrial relations, strong unions, management without the short termism of the UK, strategic investment, patriotism and a whole host of other socio-economic factors