Recession Leaves Scots Households Poorest in Britain; Economic Growth 'Flatlining' under SNP

Daily Mail (London), July 13, 2012 | Go to article overview

Recession Leaves Scots Households Poorest in Britain; Economic Growth 'Flatlining' under SNP


Byline: Graham Grant Home Affairs Editor

SCOTLAND has the poorest households of all the British nations, according to a new study.

The Office for National Statistics (ONS) calculated average wealth, taking into account the value of property and any private pensions.

It found the wealth of Scottish households was [pounds sterling]353,687 - compared with [pounds sterling]429,102 for England and [pounds sterling]380,661 for Wales. The average for Britain as a whole is [pounds sterling]419,492.

Only the North-East England sub-region had an average household poorer than Scotland. In 2006, a similar survey put Scotland fourth from the bottom of the table, meaning the nation has slumped even further since then.

The latest data compares averages for 2006-2008 - a period covering the start of the credit crunch in 2007 - with those for 2008-2010.

Surprisingly, it shows that overall wealth has increased.

According to the Wealth in Great Britain report, total household wealth in 2008-2010 amounted to [pounds sterling]10.3trillion.

This is a rise of [pounds sterling]1.2trillion - about 12.9 per cent - on the [pounds sterling]9.1trillion figure for 2006-2008.

Total household wealth for Scotland alone in 2008-2010 was [pounds sterling]810billion - 7.9 per cent of the British total.

Average household wealth for Britain as a whole rose by a similar proportion - about 12.3 per cent, from [pounds sterling]373,497 to [pounds sterling]419,492.

But in Scotland, average household wealth rose only about 5.5 per cent, from [pounds sterling]335,300 to [pounds sterling]353,687.

Only the North-East of England now has a lower average, at [pounds sterling]321,970. The region with the highest average household wealth is the South-East of England, at [pounds sterling]562,139.

Worryingly, the ONS report also shows that across Great Britain, 64 per cent of people were not paying in to a private pension in 2008-10 - with 42 per cent of adults having no private pension savings at all.

While homeowners have benefited from a record low interest rate, making mortgage repayments more affordable, the cost of living has soared.

Last month, separate research showed Scots families were enduring the worst economic conditions in a decade.

A Scottish Widows survey found three out of four Scots are finding family life far tougher than they did ten years ago.

Scottish Labour enterprise spokesman Rhoda Grant said: 'Scotland's economic growth is flatlining under the SNP. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Recession Leaves Scots Households Poorest in Britain; Economic Growth 'Flatlining' under SNP
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Full screen

matching results for page

Cited passage

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

"Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited passage

Thanks for trying Questia!

Please continue trying out our research tools, but please note, full functionality is available only to our active members.

Your work will be lost once you leave this Web page.

For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

Already a member? Log in now.