The think tank sets out for the first time the challenges facing low to middle income households and how the benefits of a period of economic growth could by pass millions.
Low to middle-income households are defined as those earning below median income and who are largely independent of state support. Typical incomes vary from around £12,000 to £30,000 a year for a couple with no children, and £19,000 to £47,000 for a family with three children.
Written by the Commission on Living Standards, a group made up of employers, trade unionists, economists and heads of parents’ groups in partnership with the Resolution Foundation, the report makes a number of suggestions to boost low pay, raise skills and increase female employment, which it says could see a typical family £1,600 better off a year by 2020.
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