Spending sinks to lowest level since 1980 after record fall in pay
HOUSEHOLD spending sank to its lowest level since 1980 in the first quarter of this year as Britain's workforce suffered a record fall in pay, official figures have revealed.
Pension funding levels have fallen due to current economic uncertainty, meaning that the aggregate position of pension schemes has moved from a surplus of £15bn at the start of 2008, to a deficit of £23bn.