A research firm in the UK has shown that London residents are coping better with the economic crisis and high living costs than others in other parts of Britain.
According to a study by the “Center for Economics and Business Research”, the real wage of residents of the British capital was 9 pounds, adjusted by 9 pounds, equivalent to 11.13 dollars a week, which is a decrease in inflation compared to last year. In the last quarter of 2022.
Northern Ireland was the opposite, as it saw a fall of around £26 a week in real wages, and the study showed an average drop in real wages of £19 a week across all regions of the UK.
The numbers, which came after the release of government data, indicated that poorer areas of the UK were also affected, in light of health deterioration and the exit of individuals from the workforce, and thus increasing pressures on the government to reduce inequality, across the country, as part of a remedial plan. Former prime minister Boris Johnson promised it would be the defining task of his premiership.
Carl Thomson, an economist at the Center for Economic and Business Research, expressed that improving the public health situation is important not only at the level of the individual, but also at the level of the economy in general. , there are many influencing factors, however, low real income leads to low standard of living and therefore less resources to lead a healthy lifestyle.
While the “EY Item Club” expects economic output to contract by 0.7% this year, it backtracked from an initial expectation of a 0.3% contraction last October, and Finance Minister Jeremy Hunt warned of repercussions. Restrictions on the public exchequer exacerbate the recession. UK’s economy and company Significantly higher inflation rates, higher interest rates and tighter fiscal policy will negatively affect the economy.
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