The typical household will see its disposable income fall by 2 per cent this year, the equivalent of £780, an economist warned today. Roger Bootle, a former government adviser who now works with Deloitte, the accountancy firm, predicted that 2011 would be the worst year for household finances since 1977 – and added that if interest rates were to rise, British families would not have seen conditions deteriorate so badly since 1952.
Said Mr Bootle. "I think this year will see falling real earnings, falling real house prices and rising unemployment."
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