Average real earnings growth
Most of us in UK are getting poorer every year since 2010, but economic growth has been driven by rising consumer spending. He offered 2 possible reason: rising inequality and borrowing.
… four out of five jobs created under Osborne have been in sectors where average wages are less than a quarter of average earnings. Just under 80% are in London and most are involuntary part-time, zero hours or enforced self-employed: the flexible labour market in action.
Unsecured lending and retail sales
Economic growth (retail sales) has been dangerously sustained by increasing level of borrowing (unsecured lending).