Date: 15 March 2011
A new survey of over 2,000 working mothers has revealed that over half will be forced to stop work or significantly reduce their working hours, as a result of cuts in the level of support for childcare costs, due to start this April.
The changes relate to the childcare element of the Working Tax Credit, which is claimed by around 450,000 working households across the UK, mostly on household incomes below £30,000. Under the current system, working parents can claim support for up to 80% of the costs of childcare, but from April that figure will fall to 70%.
Date: 16 February 2011
This briefing explores the relationship between gross earnings and net incomes at various points in the bottom half of the income distribution, under both the current tax and benefit system and the future Universal Credit model. It considers how these alternative systems relate to poverty and adequate income levels and concludes with some general observations about what difference the new Universal Credit system might make.
Date: 22 March 2010
Author: Sophia Parker
This report summarises current statistical data relating to the financial health of low earning households, and complements this with new qualitative data to give a fuller and more accurate picture of financial health. The report aims to provide a useful challenge to some of the common assumptions that cloud the debate about how to improve the financial health of low earning households.
Date: 11 October 2007
Author: Claudia Wood
This report examines comparison websites offering comparative information regarding financial products. The objective was to provide a representative snapshot of the sector to inform our analysis of how well the sector is serving consumers, particularly those on low to median incomes and to identify areas that could be improved in light of the wider policy context.
Date: 14 March 2007
This report summarises the predicted impacts on the financial services industry of improved financial decision making by low and median earners, driven by increased access to financial advice. It is based on economic modelling carried out for the Resolution Foundation by Deloitte.
Date: 21 December 2006
This report analyses whether generic financial advice services could be provided on a commercial basis and, if so, what form they would take and which sections of society they would serve. The report is based on previous research, interviews with practitioners in the industry, the regulator and other interested organisations, and the author’s experience in his own commercial career.
Date: 15 September 2006
Author: Patrick South
This report evaluates the case for developing a national advice resource to provide impartial, generic financial advice targeted at people on low to moderate incomes. It is based on modelling commissioned from Deloitte & Touche LLP to assess the impact of receiving financial advice on financial outcomes for individuals in this income group and the implications of this for public expenditure on Pension Credit.
31 August 2010
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Date: 6 June 2006
This report was commissioned by the Resolution Foundation to inform our work on low earners’ financial advice services. The report investigates how the Retirement Commission in New Zealand encourages greater financial awareness and provides financial advice and comments on the especially relevant lessons for UK policy, taking into account differences between the UK and New Zealand financial environments.
Date: 31 May 2006
Author: Patrick South
This report examines the demographic and financial characteristics of people on low to moderate incomes and investigates whether a new national resource could be established, funded through a public-private partnership, to provide generic financial advice targeted at this group.
Date: 8 February 2006
This report, a partnership between the Alliance for Health in the Future and the Future Foundation, details the results of research into the social and economic profile of low earners for the Resolution Foundation.
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