Purchasing Power
| Use attributes for filter ! | |
| Google books | books.google.com |
|---|---|
| Originally published | 2001 |
| Authors | Elizabeth M. Liew Siew Chin |
| Date of Reg. | |
| Date of Upd. | |
| ID | 3061026 |
About Purchasing Power
What does it mean to be young, poor, and black in our consumer culture? Are black children "brand-crazed consumer addicts" willing to kill each other over a pair of the latest Nike Air Jordans or Barbie backpack? . . .
Households to be £1,900 poorer, says think tank
... It said people s Purchasing Power had been stagnating for 20 years, and that recent pay rises just reflected the reality of higher inflation...
Schools and NHS caterers ‘must stop' antibiotic overuse
... Cóilín Nunan, the Alliance s scientific advisor, told BBC News that the government could use its considerable Purchasing Power in public service contracts to encourage better controls on antibiotic use...
How Ghana's central bank lost $5bn in one year
... Ghanaians incomes have been eroded, affecting their Purchasing Power...
How Argentina learned to love the US dollar
... It s estimated that during the 1980s alone, middle-class Argentines saw their Purchasing Power shrink by 30%...
House prices in first annual fall for 11 years, says the Halifax
... Although that may be welcomed by first-time buyers, higher than expected mortgage rates are squeezing their Purchasing Power...
France protests: Macron takes off 'luxury' watch during TV interview
... She tweeted that as the president was claiming minimum wage earners had unprecedented Purchasing Power, " the final image" was him " removing his pretty luxury watch"...
Home asking prices £14 rise smallest for 22 years
... Part of the reason is higher mortgage rates, which have squeezed Purchasing Power...
Ukraine war: How Germany ended reliance on Russian gas
... They " have less of a Purchasing Power than the Europeans have and, notably, the Germans...
Households to be £1,900 poorer, says think tank
By Tom EspinerBusiness reporter, BBC News
Families will be £1,900 poorer at The End of this parliament compared with The Beginning , a Think Tank has said.
The Resolution Foundation said this Government would set a " grim" new record for living standards Going Down .
It also said Chancellor Jeremy Hunt 's Autumn Statement changes, including a National Insurance cut, handed The Next parliament " implausible" cuts to public sector spending.
But Mr Hunt said the tax cuts would put " more money in people's pockets".
Responding to the Autumn Statement, The Resolution Foundation said that with The Next general election due within The Next year, " this parliament is on track to be The First in which real household disposable incomes have fallen".
The Independent Think Tank , which focuses on improving living standards for those on low to middle incomes, said Mr Hunt's plans " failed to end a wider economic stagnation".
It said people's Purchasing Power had been stagnating for 20 years, and that recent pay rises just reflected the reality of higher inflation.
Despite " tax-cutting rhetoric" and about £20bn of tax cuts announced in the Autumn Statement, there had already been £90bn of tax rises announced by the Government - so taxes are rising by the equivalent of £4,300 per household between 2019-20 and 2028-29, the Think Tank said.
The chancellor managed to make these cuts at the expense of not raising public spending In Line with the pace of general price rises, meaning departments such as justice, local Government and the Home Office face a £17bn budget cut by 2027-28, it added.
The Office for Budget Responsibility (OBR), the Government 's independent economic forecaster, said that the amount of tax households pay would go up in general.
Richard Hughes , The Chair of the OBR, said the tax burden was going up " to its highest level in the post-war era".
" Over The Medium term, The Combination of higher inflation and frozen tax thresholds means that the tax burden for This Country is going up, " He Said .
The chancellor was able to cut certain taxes because he hadn't changed public services spending plans.
This means that Government departments will face a cut in spending power of about £20bn, Mr Hughes said.
" That's roughly equal to the amount of money the chancellor has given way in tax cuts, " He Said .
Speaking to The Bbc on Thursday, Mr Hunt said: " Taxes have gone up, but I want to start bringing them down. "
He Said the Government had been right to help families during the coronavirus pandemic with The Furlough scheme, and with energy bills during the cost of living crisis.
He added that tax rises were not long-term and that after The National Insurance cuts, " there's going to be more money in people's pockets".
Mr Hunt said he had chosen to cut National Insurance to get more people into work, and that the measure would help fill one in 10 job vacancies.
He Said he did not know whether real incomes would be down, but that the pandemic and The Effects of Russia's war in Ukraine had had an impact.
But He Said the Government plans to boost the economy by making business more competitive.
" If we want to bring the tax burden down, we have to grow the economy, " he added.
Related TopicsSource of news: bbc.com