Disposable income in Liverpool lags behind UK average
Holland & Co Chartered Accountants have researched the most recent data issued by the Office for National Statistics on 13 July 2012 on Disposal Income throughout the UK and have identified that Liverpool lags behind the UK average by as much as £2,960 in 2010 compared to £1,940 in 1997.
Liverpool’s average disposable income in 1997 was £7,880 compared to the UK average of £9,820 per head. Liverpool’s average disposable income has increased to £12,770 in 2010 compared to the UK average of £15,730.
Quote from Nigel Holland:
“This recently released data shows that Liverpool is still behind the National Average figures. This may be expected given the more difficult economic environment which Liverpool finds itself. Whilst the actual difference has increased, in real terms the difference between 1997 and 2010 is marginal.
The spirit of the Liverpool workforce is far superior to many other parts of the country and one way in which the difference in disposable income between Liverpool and the rest of the UK can be reduced is if the Liverpool workforce consider setting up as self employed.
Self employment from a base in Liverpool has advantages over the rest of the UK because of lower rents and other expenses. A business which sets up in Liverpool has a favorable starting point because it can operate either nationally or internationally via the internet without incurring the high costs which are associated with business who are based in London and other parts of the UK.”
The analysis uses estimates from the Regional Gross Disposable Household Income release. These estimates relate to the household sector which comprises all individuals within an economy, it should therefore be noted that this analysis focuses on the disposable income of individuals rather than households.
The figures quoted in this analysis are based on estimates of disposable income per head of population.Data are presented on a per head of population basis. This allows the analysis to compare regions of different sizes.The estimates presented in this analysis are headline figures, which are calculated using a 5 year moving average to remove volatility.
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