How the recession has affected UK household income and expenditure?

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ACKNOWLEDGEMENT

My thanks go out to all who have helped me complete this study and with whom this project may have not been possible. In particular, my gratitude goes out to friends, facilitator and family for extensive and helpful comments on early drafts. I am also deeply indebted to the authors who have shared my interest and preceded me. Their works provided me with a host of information to learn from and build upon, also served as examples to emulate.

DECLARATION

I, (Your name), would like to declare that all contents included in this thesis/dissertation stand for my individual work without any aid, & this thesis/dissertation has not been submitted for any examination at academic as well as professional level previously. It is also representing my very own views & not essentially which are associated with the university.

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ABSTRACT

This paper is an attempt to explore the affects that recession has on the incomes and expenditures of households in the United Kingdom. The recession and the financial crisis had a substantial effect on the households in the United Kingdom. The recession in the Untied Kingdom has now just lowered the rates of employees and increased unemployment, it have been impacting the households by a modest growth in the wages, by a limiting the access to borrowing, decrease in the prices of the houses and the equity market and recently, they have been impacted due to the increasing inflation, which have been corroded the actual power to spend their incomes. This research study has adopted a secondary research methodology. Therefore, the prior researches have been focused and assessed in order to provide answers to the research questions.

TABLE OF CONTENTS

ACKNOWLEDGEMENT2

DECLARATION3

ABSTRACT4

CHAPTER 01: INTRODUCTION1

1.1. Background of the Study1

1.2. Aims and Objectives2

1.3. Research Questions3

1.4. Significance of the Study3

1.5. Layout of the Study3

CHAPTER 02: LITERATURE REVIEW5

2.4. The Impact of Recession9

2.4.1. Unemployment10

2.2.2. Social Effects10

2.5. Impact of Recession on Households in the United Kingdom12

2.6. Saving and Spending14

CHAPTER 03: METHODOLOGY16

3.1. Introduction16

3.2. Overview of Research Approach16

3.3. Secondary Research17

3.4. Research Method and Design Appropriateness19

3.6. Research Tool Utilized19

3.6.1. Secondary Data Collection19

3.11. Conclusion20

CHAPTER 04: DISCUSSION AND ANALYSIS21

4.1. Introduction21

4.2. Secondary Data Analysis21

CHAPTER 05: CONCLUSION31

REFERENCES33

CHAPTER 01: INTRODUCTION

1.1. Background of the Study

The recession and the financial crisis had a substantial effect on the households in the United Kingdom. The recession in the Untied Kingdom has now just lowered the rates of employees and increased unemployment, it have been impacting the households by a modest growth in the wages, by a limiting the access to borrowing, decrease in the prices of the houses and the equity market and recently, they have been impacted due to the increasing inflation, which have been corroded the actual power to spend their incomes (Hall, 2010, pp. 3).

The recession during the 1930s in the United Kingdom was considered to be the longest and deepest and it had an effect on all the individuals of the economy. Therefore, dissimilar households were affected to diverse extents. These households responded by reducing their consumptions in numerous ways (Layton ...