Economy and public finances
Household income per person
On track+1.9% on 2024 Q2, the last quarter before the July 2024 election; +0.1% on a year earlier
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Household income per person
On trackMilestone: higher real household disposable income per person by the end of the Parliament (Plan for Change, December 2024). The line marks £6,455 in 2024 Q2; above it counts as on track.
What it means: the money households have to spend or save after taxes and benefits, adjusted for inflation and divided by everyone in the country. It is the measure the government chose for living standards. It moves around from quarter to quarter and is often revised, so a single quarter is a guide rather than a verdict.
Source: ONS, quarterly national accounts, series CRXX; milestone from Plan for Change.