Oil town in disposable cash boom

Aberdeen, Scotland, has enjoyed the fastest disposable income rise in the UK in recent years, boosted by the strength of its oil industry, accountants said Monday.Glasgow and Dundee also came in the top five, with London in second place.The average disposable household income after outgoings like tax, mortgage payments and pension contributions rose by nearly 25 percent in Aberdeen between 2004 and the end of 2009, when the latest figures could be obtained.In 2004 people living in the Aberdeen area had 13,669 pounds left over - and this figure has leapt by 24.65 percent over five years to 17,039.pounds.London came in second place in terms of percentage change but had the highest disposable income overall.The UK capital saw a 22.13 percent jump over the same period, with households pocketing 19,658 pounds in 2009 compared with 16,096 pounds five years earlier.Accounting group "UHY Hacker Young", which carried out the research, said Aberdeen's success was buoyed by a "booming oil industry".It said "London has been seen as streets ahead of all the other UK towns and cities for growth in disposable household income, but these figures show that the gap is closing."Although London still has the greatest disposable income in the UK, Aberdeen is catching up fast." The report said "Despite the recent North Sea tax increases, there has been continued investment in North Sea oil and gas production."