Universal Credit
Inequality & poverty

Five takeaways from new living standards data


The annual release of DWP’s Households Below Average Income (HBAI) figures is far less timely than other economic indicators and, as it is based on survey data, it is noisy. Yet, together with the ONS’s separate income survey data (expected later in Spring), it provides key insights into how living standards have changed for different … Continued

Growing inequality across Britain has left millions of families exposed to the cost-of-living crisis


Today, the Office for National Statistics (ONS) published their data on household incomes and inequality for 2021-22; this is the first source of official data on household incomes for that year. 2021-22 was an eventful year. It began with the UK emerging out of major restrictions on everyday life, but by October 2021, all Covid-19 … Continued

A cut to benefits would batter millions of households

Liz Truss’s threats of a real-terms cut would ramp up inequality and hamper growth


The chancellor’s mini-budget has spooked the markets, stoked a rise in interest rates, and now caused a full-blown and very public cabinet row over whether to cut benefits for millions of working-age families. Some ministers are urging the prime minister to press ahead with the cut and end Britain’s “Benefit Street culture”, while others have spoken out … Continued

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