British consumers starting to ration, says Asda boss
This article is really interesting. It says:
“Judith McKenna said the true cost of living was only now “beginning to take its toll on British families” and was worried that policy-makers in Whitehall had little grasp of the impact on low income households.She revealed Asda’s own “average household” income tracking showed families’ disposable incomes were falling fast, dropping 8pc year on year in May – the largest decline “ever”.It estimates the average family now has £165 a week in discretionary spending power and are facing a £14 “gap in their pockets” forcing many to ration.”
Now I know there are many affluent people living in rural England but there are also many people who are asset rich and cash poor and many others who are just purely and simply poor. Around travel and energy costs it is more expensive to live in rural Engalnd and this article makes me reflect on what the “rural premium” in terms of additional living costs will mean for them in terms of exacerbating the impact of the fall in real incomes. Let’s hope those with responsibility for considering these things from a policy perspectie keep this issue in mind when they start to think through the impact of falling disposable incomes on communities more generally.