Young people hit by spending squeeze as falling incomes and rising housing costs take their toll

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Incomes and Inequality, Intergenerational Commission

Young people have experienced the tightest squeeze on household spending since 2000 and now consume 15 per cent less than older working age people on items other than housing, according to a new report published today (Saturday) by the Resolution Foundation. The finding of a consumption ‘youth deficit’ is in stark contrast to common claims … Continued

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Rising prices are bearing down most heavily on lower income families

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Incomes and Inequality

  The rising cost of food and clothing means that inflation is increasing fastest for the poorest households, the Resolution Foundation said today in response to the latest inflation figures. The Foundation notes that the rising cost of food and clothing – which was falling this time last year ­– is now the biggest driver … Continued

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Bangladeshi and Pakistani households have seen fastest income growth this century

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Incomes and Inequality

Huge gaps in household income between different ethnicities persist Large living standards gaps between different ethnicities persist in Britain, with typical Bangladeshi household incomes being £8,900 (35 per cent) lower than the White British median; Pakistani households £8,700 less (34 per cent) and typical Black African households £5,600 less (22 per cent), according to new … Continued

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Income growth halved in the run up to the 2017 General Election

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Incomes and Inequality

  Britain beset by big divides on housing, age and inequality The mini living standards boom between 2013 and 2015 came to an abrupt halt in the year running up to the recent General Election, with income growth halving to just 0.7 per cent, according to a major new report published today (Saturday) by the … Continued

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Britain should aim to have the lowest persistent poverty rates in Europe

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Incomes and Inequality

Commenting on the latest ONS figures on persistent poverty published today (Tuesday), David Finch, Senior Economic Analyst at the Resolution Foundation, said: “While overall poverty rates in the UK are broadly in line with the rest of Europe, it’s encouraging to see that the risk of staying in poverty is far lower here, though it … Continued

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Britain’s increasingly unevenly shared property wealth is driving up inequality after a decade-long fall

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Incomes and Inequality

The spreading of property wealth across Britain in the mid-1990s and mid-2000s fueled a decade-long fall in wealth inequality but that progress has now gone into reverse, according to a new report to be published later this week by the Resolution Foundation. The report, launching a major programme of work on wealth across Britain for … Continued

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