Britons have £10,000 LESS disposable income than in 2010, but here are seven areas where it has GROWN

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Written By Daily Mail

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People today have £10,200 less money to spend than they would have if pre-2010 disposable income trends had continued in the UK, new research shows.

People are out of pocket in 56 of the UK’s 63 largest towns and cities, Center for Cities research revealed.

Aberdeen residents are the worst off on average, with disposable income reduced by £45,240.

The Center for Cities says this would be equivalent to two extra years of disposable income.

The city, which relies on the oil and gas sector, has lost about 9,000 jobs in that industry since 2010, while retail jobs have fallen by almost a third, compared with a drop of just 6 percent. percent nationally.

Aberdeen has been the worst hit city, with residents losing £45,240 since 2010.

Aberdeen has been the worst hit city, with residents losing £45,240 since 2010.

If you live in Burnley, your wallet suffered the second-worst hit to your disposable income – with the average person losing £28,090.

Residents of Glasgow, Milton Keynes and Cambridge followed suit, shelling out more than £20,000.

Dundee, Birkenhead, Ipswich, Exeter and Plymouth were also among the ten worst affected areas, with residents losing more than £16,000.

Why did disposable income fall?

The Center for Cities says the shortfall in disposable income is the result of a UK employment boom since 2010, which has not been accompanied by productivity growth, a key driver of higher wages.

While all but two places saw the number of available jobs grow, productivity growth was lower than pre-2010 performance in all but five cities.

PPreviously strong performers such as Cambridge, Milton Keynes and London struggled, affecting local incomes and reducing national productivity growth, the report said.

Higher housing costs also affected disposable income. The report found that housing became less affordable in almost all places in the 2010s, with the steepest increases in the Greater South East, such as Cambridge, London and Brighton.

“A comparison of disposable income in the UK’s 63 largest cities and towns over time reveals that there is out-of-pocket spending everywhere, both North and South, and from former industrial towns to superstars of innovation,” says the Cities Center report.

London came 17th on the list, with residents £13,080 worse off on average.

Only seven areas saw their disposable income grow to pre-2010 levels or higher, with Derby residents seeing an average improvement of £2,110.

Telford residents improved by £1,770, and Northampton residents saw an increase of £1,160.

People in York, Slough, Aldershot and Bristol were also better off, but on less than £1,000 each on average, with just £50 more in the pockets of Bristolians.

Residents of Crawley, Huddersfield and Bradford saw their disposable income fall, but suffered the smallest losses.

The UK has been through a torrid time since the Great Recession. Everywhere, up and down the country, has leveled off due to lack of growth.

Andrew Carter of the Center for Cities

The think tank said that although some places recorded higher incomes than 1998-2010 trends would have achieved, this was due to disappointing economic performances before 2010, rather than stronger performance in recent years.

Andrew Carter, chief executive of the Center for Cities, said: ‘Both main political parties have committed to growing the economy and the general election debate will have growth at the heart of it.

“The challenge for the next government is to go beyond the rhetoric and do what is necessary to make this rhetoric a reality.”

The number of people in work rose in all but two cities, while productivity was below pre-2010 levels in 58 cities, including previously strong performers such as London, Cambridge and Milton Keynes, pushing down productivity. overall productivity levels, he said.

‘The UK has been through a torrid time since the Great Recession. “Everywhere across the country, including places that were doing relatively well before, has leveled off due to lack of growth,” Carter said.

“To achieve growth everywhere, the next government must act at a radically different pace and scale, ushering in a multi-decade policy programme.”

How have disposable income levels changed?
City Cumulative difference in disposable income (£) per capita compared to 1998-2010 growth
1 Aberdeen -45,240
2 Burnley -28,090
3 glasgow -23,500
4 Milton Keynes -21,610
5 cambridge -21,340
6 Dundee -17,730
7 Birkenhead -17,540
8 ipswich -17,390
9 Exeter -16,990
10 plymouth -16,340
eleven Edinburgh -16,030
12 Basildon -15,880
13 Liverpool -15,720
14 ChathamEdit -14,380
fifteen Norwich -14,190
sixteen WakefieldEdit -14,030
17 London -13,590
18 mansfield -13,490
19 Middlesbrough -13,200
twenty Cardiff -13,080
twenty-one SunderlandEdit -12,730
22 Peel -12,260
23 Newport -12,200
24 Peterborough -11,990
25 wigan -10,710
26 Liverpool -10,300
27 belfast -10,150
28 Preston -10,020
29 gloucester -9,630
30 black burn -9,470
31 portsmouth -9,270
32 London -9,210
33 coventry -8,950
3. 4 Bournemouth -8,560
35 Warrington -8,440
36 Swansea -8,380
37 south -8,350
38 leeds -8,220
39 Manchester -8,180
40 leicester -7,980
41 London -7,660
42 Prime -7,360
43 Southampton -7,070
44 Newcastle -6,860
Four. Five Brighton -6,660
46 SheffieldEdit -6,380
47 Reading -5,920
48 Doncaster -4,750
49 Barnsley -3,880
fifty it’s worth it -3,170
51 oxford -3,060
52 Nottingham -3,000
53 Birmingham -2,680
54 Crawley -2,680
55 HuddersfieldEdit -2,650
56 bradford -1,550
57 Bristol board fifty
58 aldershot 190
59 Move 720
60 york 900
61 Northampton 1,160
62 Telford 1,770
63 Derby 2,110

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