BBC Panorama: The Big Squeeze03:35 - Saturday 26 January 2013 - In Category Money
In case you missed it, here’s another chance for you to watch BBC Panorama documentary The Big Squeeze which gives an enthralling insight into how middle England has been affected by the recession, writes Winsome ‘Lyrical Healer’ Duncan.
It’s forecasted that over the next two years we’ll have to tighten our budgets before we can climb out of the credit crunch crisis. However, my concern is; what provisions are being provided by the government to combat more families going into poverty?
On average, wages have been decreased by 15 per cent during the rising cost of living. The average person takes home £20,400 a year, and compared to two years ago consumers are £1,088 a year worse off.
These figures equate to a pay cut of 5%. And did you know that if you have to pay 10 per cent or more on your fuel bills you are considered to be in fuel poverty?
It is disturbing to know that our economy is going to get worse before it gets better. My advice is to create a second residual income stream doing what you enjoy, and unleash that entrepreneurial spirit that is dormant within!