Gentle reminder: you just got poorer

It’s one of those things its easy to miss, perhaps because we don’t experience it as someone coming round our house and nicking your stuff, but you just got poorer. Like you do every day at the moment.

You’ve been getting poorer for a while now, partly due to inflation, which unless you are a CEO or George Osborne is higher than your wage rises (incidentally you may get a wage rise this year for performing well in your job but that will only signify you moving up the ladder while the ladder slips downward). Did you notice that minimum wage rose below inflation this year? You probably did if you get the minimum wage because it was already hard enough to live on.

Inflation is predicted to rise today but even if it doesn’t it has been at 3.4% over the last quarter. Meanwhile your public services have been reduced. These are also part of your wealth, and like your salary they have been getting worth less every day, partly due to deliberate cuts and partly due to a policy of not allowing spending to keep pace with the real rate of inflation.

This isn’t a cheery post and sometimes people tell me I should think more positively. But Tesco doesn’t take positive thinking in exchange for food.

Thankfully charity food banks are opening at a rate of one every four days.

The question that should worry more people than it currently does is this: is this fall in your wealth a result of mismanagement of the economy or of good management of the economy?

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