Slow growth in ready cash in Sheffield

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Household disposable income in Sheffield has grown by less than eight per cent in the last five years - one of the slowest rates in the country.

Accountancy firm UHY Wingfield Slater looked at the growth in average household disposable income in the UK’s Top 40 largest towns and cities by population size between the start of 2006 and the end of 2010.

Sheffield came 36th, with a 7.72 per cent rise from £12,002 to £12,928.

As a whole, the UK’s average household disposable income grew by 12 per cent over the same period, from £14,027 to £15,727.

The average growth in the UK’s Top 40 largest towns and cities was 11 per cent.

John Wingfield, partner at UHY Wingfield Slater, said: “Major government plans that could help Sheffield, like high speed rail, will take a long time to arrive. Some shorter-term proposals are needed.”