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Austerity in the UK

The Joseph Rowntree Foundation have just published important research into the current poverty crisis in the UK.

http://www.jrf.org.uk/austerity-spotlight-income

Key facts

  • One person must earn £16,400 a year or £8.38 an hour to achieve a minimum income standard. (stat from MIS 2012)
  • Two parents must earn £18,400 a year each to support themselves and two children. (stat from MIS 2012)
  • Out-of-work benefits and the National Minimum Wage are well below the minimum income standard. (stat from MIS 2011)The cost of a ‘minimum’ basket of goods and services rose by 43% over the past decade. (stat from MIS 2011)
  • Families needing childcare had to earn over 20% more in 2011 than in 2010 with changes in benefits and tax credits. (stat from MIS 2011)
  • The gap between the incomes and needs of the worst-off households is widening, especially for families with children. (stat from MIS 2012)
  • 1.4 million families face an effective marginal tax rate over 70%. (stat from MPSE 2011)

Insights

Poverty is about more than pounds and pence.

But breaking the crippling low-pay, no-pay cycle that keeps so many in poverty would be a start.

  • What do we know?
  • What can we do?