by Jim Rose in applied welfare economics, economic growth, economic history, macroeconomics

The only two periods of sustained increases in median equivalised British real household disposable income is was under Mrs Thatcher, once she got going on Thatchernomics and under Tony Blair. Despite the ups and downs, real household incomes more than doubled in Britain since the winter of discontent. Equivalised income takes account of changes in the composition of households such as more single-parent households and fewer children since 1977.

Source: Release Edition Reference Tables – ONS.

Notes:

1 Households are ranked by their equivalised disposable incomes, using the modified-OECD scale.

2 1994/95 represents the financial year ending 1995, and similarly through to 2014/15, which represents the financial year ending 2015.

3 Income figures have been deflated to 2014/15 prices using an implied deflator for the household sector