Sitting in the middle

Published on by

Incomes and Inequality

Yesterday at the Resolution Foundation we launched a wide-ranging investigation into the pressures now facing low-to-middle earners. The Commission on Living Standards will focus on the long-term economic trends that are changing the reality of life for those on low-to-middle incomes in Britain, writes James Plunkett It will bring together leading thinkers, from major employers … Continued

READ MORE

Wanted: a new purpose for British capitalism

Published on by

Incomes and Inequality

If this year’s question is “When will growth resume?”, next year’s will surely be “How do we make sure that growth benefits the great majority of working people?”. For much of the 20th century, that second question would not have been necessary. The link between growth and living standards held strong — it was the … Continued

READ MORE

Time to think again about the way we measure inflation?

Published on by

Public Finances and the Economy

As was widely expected, annual inflation increased again last month. A combination of the VAT rise and higher oil prices helped push CPI from 3.7% in December to 4% in January – twice the government’s official target of 2 per cent. The wider RPI measure also increased, from 4.8% to 5.1%. There is, however, a big question over … Continued

READ MORE

Low-to-middle earners to bear brunt of latest prescription price increase

Published on by

Public Finances and the Economy

Despite the passing of legislation in the Scottish Parliament to remove prescription charges north of the border and pressure from the British Medical Association to follow suit in England (prescriptions are already free in Wales and Northern Ireland), the government announced last week that the cost of prescriptions will rise by 20p to £7.40 per item from April 1st. … Continued

READ MORE

The type of social mobility no-one talks about

Published on by

Incomes and Inequality

Ed Miliband today addressed the issue of social mobility in a speech in Gateshead. His argument was built around the concept of the ‘British Promise’ – the idea that each generation of children will do better than their parents. It’s our own rather less lofty version of the American Dream, and it’s a promise, he … Continued

READ MORE

Considering income alone is never enough when looking at living standards

Published on by

Incomes and Inequality

The Independent reported yesterday that ‘middle England’ will be ‘hit hardest’ by upcoming changes to taxes and benefits. Research commissioned by the paper finds that families in the £40k-£50k bracket are set to suffer a four-way hit from: The reduction of the 40p tax threshold; A rise in NICs rates; A sharper taper on tax credits; and … Continued

READ MORE