Gosport MP Caroline Dinenage has welcomed news from the Asda Income Tracker showing that last month, the discretionary income of the average UK household is fast approaching its all-time high.
In August 2014, the average family had £172 per week of discretionary income, in comparison to the high point of £174 per week last seen in January 2010. The August increase marks the biggest annual increase in the Income Tracker for five months.
Caroline commented:
"Hearing that discretionary incomes are up £5 a week on the same time last year is really good news for households across the Gosport peninsula. That additional money will make a real difference to families, reducing the pressure on their household budgets.
The increase will also boost spending power thus helping to accelerate the recovery of the British economy."
The Asda Income Tracker measures how much families have left to spend each week after paying for essentials such as electricity and fuel, food and housing costs. It is based on research by the Centre for Economic and Business Research (CEBR).