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August 3, 2012 / politicsbitesize

Squeezed top, middle and bottom

According to recent figures the UK is now in the midst of the longest double dip recession on record. The Office of National Statistics (ONS) sent the government into a spin last week when it released the figures for the second quarter of 2012. A 0.2% drop in GDP was expected but the data actually showed a 0.7% fall.

Low manufacturing and construction output coupled with the Chancellor’s deficit reduction plans have been blamed for the setback. A Plan B is once again being called for but Mr Osborne seems resolute in sticking to his original course. However, he cannot ignore the fact that the UK economy is struggling to get back on its feet.

Another report by the ONS this week has highlighted the plight of British households. The statistics show that the average amount of disposable income people have to spend each week is down by 1%. Although this doesn’t sound like much, what it does mean is that people have less to spend today than they did in 2003. The ONS claims that the main cause for the fall in consumer spending power is inflation on utility bills, high unemployment and a feeling of concern about the uncertain economic future we all face.

Those with jobs are saving less because they need every penny they can get each month in order to just pay the bills. Making ends meet is such a growing concern amongst the British public that Unite the Union have decided to hold a mass demonstration. On October 20th 2012, Unite and the TUC are inviting hundreds of thousands of people to join them in an appeal for ‘A Future that Works’. They ask:

Are you fed up of worrying about rising costs and declining living standards, money, bills, your job, your family?

Then stand up for a better future. Join the TUC organised march for a future that works for you!


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