Press & PR

A new study suggests that the average family in the UK is £1,300 a year worse off than it was four years ago.

The Centre for Policy Studies' (CPS) report also shows that the average mortgage is twice as high as it was in 2002 and that utility bills are more than 30 per cent more expensive.

Despite steady economic growth over the last few years, the study found that the average household had an annual disposable income of £15,231, down from £16,544 five years ago.

CPS spokesperson Charlie Elphicke advised that rising household costs, combined with worsening financial conditions, mean that British families "are more vulnerable to - and less prepared for - any economic downturn."

The news follows a recent newspaper campaign that exposed hidden charges in utility bills. The Daily Mail's Dirty Dozen campaign found that some utility companies were charging as much as £5 to customers who weren't paying by direct debit.

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