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flag UK disposable income dropped £40 per person from 2019 to 2024, the first decline by end of parliamentary term.

flag UK disposable income fell by £40 per person from December 2019 to July 2024, the first time in recorded history that income at the end of a parliamentary term was lower than at the start, according to a Sky News analysis of updated ONS data. flag Despite a recent modest increase, average monthly spending power remains just £1 higher than in 2019, reflecting ongoing financial strain from inflation, high living costs, and stagnant wages. flag The decline underscores a prolonged erosion of living standards, challenging Prime Minister Keir Starmer’s promise of rising prosperity.

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