Wednesday 23 September 2020

People in work had 2.5% more to spend last year, pensioners also had more cash

Photo: Depositphotos.com

People in paid work had an average of 2.5% more to spend last year, national statistics agency CBS said on Tuesday. This means a family with disposable income of some €44,000 a year had €1,100 more to spend.

Even though consumer prices rose by 2.6%, the highest level since 2002, spending power for the population as a whole grew by an average of 1.3%, the CBS said. Pensioners too had more disposable cash after a two year decline.

In total, 62% of the population had more to spend in 2019, which is also an increase on 2018, when 54% of people had an increase in spending power.

The 2019 rise is largely due to collective pay rises, which averaged 2.5% over the year. Tax changes, including a small cut in income tax, also played part, the CBS said.

Thank you for donating to DutchNews.nl

The DutchNews.nl team would like to thank all the generous readers who have made a donation in recent weeks. Your financial support has helped us to expand our coverage of the coronavirus crisis into the evenings and weekends and make sure you are kept up to date with the latest developments.

DutchNews.nl has been free for 14 years, but without the financial backing of our readers, we would not be able to provide you with fair and accurate news and features about all things Dutch. Your contributions make this possible.

If you have not yet made a donation, but would like to, you can do so via Ideal, credit card or Paypal.