I recently came across a rare piece of good news in the business press – average UK incomes are likely to rise this year.
However, reading on from the headlines – the article also states that average incomes will only rise by about 0.2% to 0.5%.
That’s a rise of £2 to £5 for every £1000 earned – for someone on the average income in the UK it means an annual rise of about nothing to not much more!! And that’s before taxes, national insurance etc!
The reality for most people, whatever the percentages are, is they will not see any real benefit even if their salary does rise slightly.