The social contract between generations in Britain is being broken

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Incomes and Inequality, Intergenerational Commission

It marks a dramatic turnaround in the fortunes of different generations that this week the IFS estimate that the incomes of pensioners – £394 per week – are higher than the incomes of the rest of the population – £385 per week. In many ways, this is a triumph. Nobody wants to see pensioners struggling … Continued

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The poverty challenge remains – but its nature is changing

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Incomes and Inequality

Today’s annual poverty update from the DWP is, on the face of it, fairly encouraging.  Despite the poor state of the economy in 2012-13 – the period the latest figures relate to – child poverty edged down slightly, to 17 per cent from 18 per cent in 2011-12. Having fallen quite sharply at the start of the … Continued

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Mobility and the squeezed middle

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Incomes and Inequality

A common criticism of the recent concern over rising inequality is that it looks at the distribution of earnings and wealth at one point in time. Individuals are mobile and tend, on balance, to find better paying jobs over the course of their lifetime, which might mean that looking at their wages at any one … Continued

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The robots are coming. Will they bring wealth or a divided society?

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Jobs, Skills and Pay

Whether it’s our humdrum reliance on supermarket self-service tills, Siri on our iPhones, the emergence of the drone as a weapon of choice or the impending arrival of the driverless car, intelligent machines are woven into our lives as never before. It’s increasingly common, a cliche even, for us to read about the inexorable rise … Continued

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The Treasury has a point on living standards — but it ignores the role of inequality

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Incomes and Inequality

One of the big surprises in today’s Autumn Statement lies in the new OBR projections. Growth has been revised up as expected—at least in the short-term. But wage forecasts are down. Amazingly, after today’s largely positive economic news, the squeeze on wages is now going to be even longer than the OBR thought in March. The updates reflect … Continued

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