The pre-tax, pre-benefit incomes of the poorest half of the population have barely
benefitted from overall economic growth
Share (%) of the growth in real original household incomes* among economically
active households between 1979 and 2012, by income decile
Why measure pre tax and pre benefits?
Well, obviously, because you wish to commit Worstall’s Fallacy.
“The pre-tax, pre-benefit incomes of the poorest half of the population have barely benefitted from overall economic growth”
So, compensate them for that by decreasing their taxes and increasing their benefits. Oh, we already do that. Job done.
@ jgh
The increase in benefits and reduction in taxes on low incomes has altered the make-up of rewards for work and is, in part, the cause of the stagnation in pre-tax, pre-benefit incomes.
[I haven’t had time to analyse the statistics which are bound to be significantly distorted (“faked”) by the Callaghan government’s running a big budget deficit to hide inflation in fixing electricity and other prices below cost}