Personal Income

(asked on 26th June 2017) - View Source

Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, what assessment he has made of the effect of inflation and wage growth on household incomes between January and March 2017.


Answered by
Steve Barclay Portrait
Steve Barclay
Secretary of State for Environment, Food and Rural Affairs
This question was answered on 4th July 2017

The Government is taking action to support incomes. This includes increasing the National Living Wage, raising the personal allowance and freezing fuel duty. According to the Office for National Statistics, total real wage growth was positive between January and March 2017.

The Office for Budget Responsibility (OBR) expect nominal wage growth to increase in each year of their forecast, with growth over 3.5% by 2021. They expect these increases to occur alongside CPI falling back towards 2%. The OBR also forecast real household disposable income per head to reach a new record high in 2020.

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