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Standard Of Living

Volume 895: debated on Thursday 17 July 1975

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asked the Chancellor of the Exchequer by what percentage he expects living standards to be cut on average in the coming year.

There is no fully satisfactory overall measure of changes in living standards. But on the basis of the White Paper "The Attack on Inflation", Cmnd. 6151, it is estimated that a married man on average earnings with a non-working wife and two children will face a l¾ per cent. fall in post-tax real income between the third quarter of 1975 and the third quarter of 1976, assuming unchanged tax and national insurance regulations.