I started this blog in June 2007 asking these questions: Are we in a massive asset bubble that will blow up in our faces ??? - ANSWERED YES ! Is western and particularly British society on the verge of social collapse??? What are the best common sense long term investment strategies to keep you rich? When will consumption/debt bubble economics end and a real savings/production economy begin ???

Monday, 29 December 2008

140,000 uk families are living on handouts worth in excess of £20,000 a year

An astonishing 140,000 households are pocketing more in benefits than the average take-home wage.

The families are living on handouts worth in excess of £20,000 a year, official figures show.

The enormous payouts dwarf the incomes of millions of hard-working families who are struggling to cope with the recession and the rising cost of living.

The average salary is £25,100 before tax, but after deductions it shrinks to £19,126. In contrast, state benefits are tax-free.

A worker would have to earn £27,000 a year to take home more than £20,000.

more ...

Check out the rest of this blog here.
blog comments powered by Disqus

Warren Buffett Watch

Amazon UK Picks