Families in Stratford-on-Avon would be £40,350,000 better off if disposable income in the UK had grown in line with similar countries
New analysis from Stratford-on-Avon Labour reveals the total loss to families in Stratford-on-Avon thanks to the UK’s falling living standards. Research from the TUC finds that the average UK household is £750 worse off than we would be had disposable incomes grown in line with similar economies.
The average G7 economy saw disposable income grow at 3.5% since 2019, while in the UK it has contracted by 1.9%. Had we grown at the same rate as the G7 families across Stratford-on-Avon would be a combined £40,350,000 better off.
The first mission of a new Labour government will be to secure the highest sustained growth in the G7 – with good jobs and productivity growth in every part of the country making everyone, not just a few, better off.
Publishing the analysis, Stratford on Avon Labour’s Vice Chair Julie Fewins said,
“The Conservatives have utterly failed to get Britain moving. Last year saw stagnant growth – in spite of the Prime Minister’s promise to get the country going again, the Tories crashed the British economy in 2022 – leaving working people to pay the price – and since 2019 household disposable income hasn’t just failed to grow – it’s got smaller. Meanwhile our competitors have sped ahead.
“It doesn’t have to be this way – and as we begin 2024 it is time for change. Families in Stratford-on-Avon can’t afford five more years of the Conservatives. Labour has a plan to get Britain building again. We will make growth the central mission of the next Labour government – ensuring that there are good jobs and higher productivity in every part of the country making everyone better off.”