CASH-STRAPPED residents in Portsmouth have less spending money than the rest of the UK, according to a new report.
A study by accountancy firm UHY Hacker Young found households in Portsmouth had just 5.6 per cent more money to spend compared to five years ago.
That’s one of the slowest rates of growth anywhere in the UK, alongside Lancashire (six per cent) and Sheffield (5.8 per cent).
Wales topped the report with the average Welsh home 15.4 per cent better off compared to 2011, amid a recovery in manufacturing.
Former Portsmouth council leader, Cllr Gerald Vernon-Jackson, said low income levels was something that has plagued residents in Portsmouth for years.
‘We have a lot of people who are either on very low paid jobs or who are living on the state pension,’ said the Lib Dem councillor.
He added there were many people working in the city on high incomes, but explained they tended to commute out of Portsmouth.
Cllr Vernon-Jackson called for improved housing, schools and services to try to entice these high earners into the city. He also appealed for all residents to be paid at least the living wage.
Cllr Vernon-Jackson added: ‘It is about making sure that people get a decent wage. But also that we change the culture that says it’s okay for people at the top to get big wages while people at the bottom struggle.’