Poverty

The minimum wage is rising rapidly. In 2015 4% of employees aged 25 and over were on the minimum; this is set to reach 12% by 2020. New analysis publi

Short-term pain, long-term pain? The immediate and lasting impacts of economic downturns on living standards

Short-term pain, long-term pain? The immediate and lasting impacts of economic downturns on living standards

This presentation was given at the IFS Autumn 2017 post-Budget briefing.

Which regions have fared better or worse over recent decades and what are the lessons for a government looking to raise living standards?

Household incomes have fared very badly in the decade since the financial crisis. In 2015-16 (the latest data available), real median income in the UK was only 3.7% higher than it was at the start of the recession (2007-08) - usually incomes grow by around 2% each year. And new research from the Institute for Fiscal Studies suggests that if the government sticks to planned tax and benefit reforms, and the latest Office for Budget Responsibility's (OBR) macroeconomic forecast is right, that slow growth is likely to continue - averaging just 0.8% per year between 2015-16 and 2021-22.

Presentation on public finances, tax and benefit policies and minimum wages to LPC

This presentation was given at the Understanding Society Scientific Conference, Essex, July 2017

The gender pay gap isn’t our biggest challenge; it’s squeezed incomes

Britain’s wealth gap has narrowed since the recession

The facts on income inequality in the UK might surprise you

Living standards

Income inequality

In-work poverty among families with children