Brits have less cash to spare

THE pressures of inflation and Westminster cuts have seen average disposable incomes fall for the fifth year in a row.

A survey in the Bank of England’s quarterly bulletin painted a bleak picture, with disposable incomes having dropped by an average £46 a month to £720 in the past year.

The figure has fallen every year since 2007.

Some 56 per cent of people said their wages failed to keep pace with the rising cost of bills and just 13 per cent surveyed said they were now better off.

More than one in ten had struggled to pay for their accommodation in the past year; nearly half said they had been hit by government cuts.