The table shows how expenditure in the different regions on the United Kingdom and also the different countries within the UK can vary depending on a number of factors. It is possible to find correlations between higher spending in one category and lower spending in others. The more spent on housing, fuel and power and the less spent on recreational activities can be used as an example. In London, the percentage of weekly expenditure spent on Housing is far greater than anywhere else in the UK. Also the percentage spent on recreation and hotels is of a considerably smaller amount than anywhere else in the UK. It is surmise to say that these two points can be analysed to determine that the more spent on housing the less spent on recreation. This would suggest households prioritising necessities i.e. housing over more leisurely and luxurious activities such as recreation and staying in hotels. It is clear that households are beginning to sacrifice doing things that they would like to do in order to pay their bills, showing that potentially households are becoming more financially aware. Although the table doesn’t distinguish between ages it is possible to prose that households in the younger age bracket might act differently from older households in respect of this point. For example younger households are perceived as being less financially aware and might spend more on recreation than on bills and housing whereas older households are perceived as being better financially and potentially would spend more on bigger houses in better areas possibly due to having children.
Another key point that is clear from looking at the table is the correlation between the percentage spent on education and the percentage spent on Alcohol, tobacco and narcotics. In the areas where education spending is a higher percentage of household income the table shows a lower percentage is being spent on alcohol, tobacco etc. This pattern is evident throughout the table, Yorkshire and the Humber has the lowest percentage of spend on education at 0.8% and the highest percentage per region spent on Alcohol, tobacco and narcotics at 3.0%. Compare this with London which has the highest percentage spent on education totalling at 2.5% and the lowest percentage spent on alcohol with 1.9%. It is clear looking at those figures that a pattern is evident. Households who spend more on education have prioritised other things above personal enjoyment and pleasure. It is also worth noting that a better education could possibly make people more aware of the damages caused by such things as alcohol, tobacco and narcotics.
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PART B,
The rise of minimum wage and how it effects different households.
For this essay I will be looking at how the governments rise of the national minimum wage effects a single person household and also a lone parent household. I will also look at how this change effects the cash flow between these households, corporations and the government.
Both households will see the same effects from this change, I will begin by assessing how this change effects the households and then begin to describe how if effects the flow of cash between the three interested parties. With the rise of NMW the
