The survey looked all areas of the UK and found just two regions, the West Midlands and the North East, had seen an increase in disposable income since the financial crisis hit in 2008.

This fall in disposable income, the amount of money a person takes home after tax and national insurance deductions, illustrate the North South divide, where disposable income remains highest in London at £20,238, far above the rest of the UK.

The places with the lowest rates were Nottingham at £10,702 and Hull at £11,149. The report said the large student population in these areas contributed to the low income levels.

Between 1997 and 2010 the area with the fastest growing level of disposable income was the Orkney Islands in Scotland, at 112.8%.