Britons have £10,000 LESS disposable income than in 2010 – but here are seven areas where it has GROWED

People today have £10,200 less pocket money than they would if pre-2010 disposable income trends had continued in Britain, new research shows.

In 56 of Britain’s 63 largest towns and cities, people are left without money, compared to pre-2010 growth rates, the Center for Cities research shows.

Aberdeen residents are the worst off on average, with disposable income £45,240 lower than where it would have been.

Center for Cities says this would equate to two years of extra disposable income.

The city, which relies on the gas and oil sector, has lost an estimated 9,000 jobs in that sector since 2010, while retail jobs have fallen by almost a third, compared to a decline of just 6 percent nationally.

If you live in Burnley, your wallet has taken the second biggest hit, with the average person losing £28,090.

The people of Glasgow, Milton Keynes and Cambridge all followed suit, with people out of pocket to the tune of more than £20,000.

Dundee, Birkenhead, Ipswich, Exeter and Plymouth are also among the top ten worst affected areas, with people in these areas losing more than £16,000.

Why did disposable income growth decline?

Center for Cities says the shortfall in disposable income compared to previous growth rates is the result of job growth in Britain since 2010 that has not been matched by productivity growth – a key driver of higher wages.

While the number of available jobs grew in all but two places, productivity growth lagged behind pre-2010 performance in all but five cities.

PNotably strong performers such as Cambridge, Milton Keynes and London struggled, hurting local incomes and slowing national productivity growth, the report said.

Higher housing costs also eat into disposable income. The report shows that housing has become less affordable in almost every place in the 2010s, with the strongest increases in the Greater South East, such as Cambridge, London and Brighton.

‘A comparison of disposable incomes in Britain’s 63 largest cities and towns over time shows that every place has money out of its own pocket – North and South, and from former industrial towns to superstars of innovation,” the Center for Cities report said.

London came 17th on the list, with residents on average £13,080 worse off.

Only seven areas saw disposable income grow at or above pre-2010 levels, with Derby residents £2,110 better off on average.

Telford residents were £1,770 better off, and those in Northampton saw a rise of £1,160.

People in York, Slough, Aldershot and Bristol were all better off too, but on average less than £1,000 each, with just £50 more in the pockets of Bristol residents.

Residents of Crawley, Huddersfield and Bradford saw their disposable income fall, but experienced the smallest losses.

The think tank said that while some places saw higher incomes than what 1998-2010 trends would have produced, this was due to disappointing economic performance before 2010, rather than stronger performance in recent years.

Andrew Carter, CEO of the Center for Cities, said: ‘Both two main political parties have pledged to grow the economy and the general election debate will put growth at its heart.

“The challenge for the next administration is to go beyond the rhetoric and do what it takes to make this rhetoric a reality.”

The number of people in work increased in all but two cities, while productivity lagged behind pre-2010 levels in 58 cities, including previously strong performers such as London, Cambridge and Milton Keynes, causing overall productivity levels to decline.

‘The UK has had a torrid time since the Great Recession. Across the country, including places that were previously doing relatively well, the country has been razed because of the lack of growth,” Carter said.

“To deliver growth everywhere, the next government must act at a radically different pace and level, marking the beginning of a policy program that will last several decades.”