Sunday, March 20, 2011

Whoops

First, for most households, low interest rates and high inflation have had a much greater impact on their real incomes than either unemployment or tax and benefit changes. If you break down that £365 loss in post-tax income for the median household, only £79 is directly attributable to loss of employment. About £203 has been lost as a result of earning less interest on savings, and another £203 has been lost as a result of their wages not keeping up with inflation.Stephanie Flander, BBC

Translation: The average British citizen is not participating in the future.

I suspect that most of Britain's future is tied up in the government economy, and the amount of private sector future to pass around is small.

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