Key findings about income growth
· From 2004 to 2007, median household incomes rose 6% in real terms.
· This followed an 8% rise from 2001 to 2004.
· From 2004 to 2007, incomes for low to middle income households rose much more quickly than incomes for higher income households.
· The relatively large rises for incomes for low to middle income households reflect the impact of the Working for Families (WFF) package on the incomes of low to middle income households with children.
· From a longer term perspective, median incomes fell in real terms from the late 1980s to a low point in 1994, and have been steadily rising since then at an average of 2.5% pa. By 2001, the median income had just returned to its 1988 level.
For those not following along, the 1984-1999 period represent the Fourth Labour and Fourth National Governments (i.e. Rogernomics and More Rogernomics) and post 1999 the Fifth Labour Government (i.e. Helen Clarke). leading up to this election, the indications are that National is pretty much the same as it ever was.
That's great if you're in the top 20% of the country - statistically Helen has been better for the other 80% of us.
But who gives a shit - change for change sakes, right?