Within two years, almost 7.1 million of the nation’s 13 million youngsters will be in homes with incomes judged to be less than the minimum necessary for a decent standard of living, according to a new report which also concluded that 90 per cent of families will be worse off in 2015 than in 2010.
Frances O’Grady, the TUC general secretary, said: “Families are suffering the tightest squeeze in living standards in nearly a century. On top of wages that do not keep up with prices, government policies are making life even more miserable for millions of low to middle-income families through tax increases and cuts in benefits and tax credits. By the 2015 election, the majority of children in Britain will be living below the breadline. For any civilised society, that should be shaming.”
In another report essential household bills, including food and fuel, have risen 25 per cent in the past five years, leaving people more concerned about living costs than their health.
The cost of car insurance, gas, electricity and petrol have seen the biggest increases at 67 per cent, 52 per cent, 32 per cent and 33 per cent respectively, while wages climbed just six per cent over the same period. Average rent rises of 24 per cent and food-price increases of 17 per cent are also contributing to what the report calls “unprecedented levels of pressure”. Consumers are now spending an average of £1,575 a month on essentials such as food, fuel and basic living costs – compared to £1,264 spent on average in 2008.
Michael Ossei, uSwitch personal finance spokesman said “Spiralling living costs are stretching household budgets to their absolute limit and people are running out of ways to fund ever-increasing bills.”
Frances O’Grady, the TUC general secretary, said: “Families are suffering the tightest squeeze in living standards in nearly a century. On top of wages that do not keep up with prices, government policies are making life even more miserable for millions of low to middle-income families through tax increases and cuts in benefits and tax credits. By the 2015 election, the majority of children in Britain will be living below the breadline. For any civilised society, that should be shaming.”
In another report essential household bills, including food and fuel, have risen 25 per cent in the past five years, leaving people more concerned about living costs than their health.
The cost of car insurance, gas, electricity and petrol have seen the biggest increases at 67 per cent, 52 per cent, 32 per cent and 33 per cent respectively, while wages climbed just six per cent over the same period. Average rent rises of 24 per cent and food-price increases of 17 per cent are also contributing to what the report calls “unprecedented levels of pressure”. Consumers are now spending an average of £1,575 a month on essentials such as food, fuel and basic living costs – compared to £1,264 spent on average in 2008.
Michael Ossei, uSwitch personal finance spokesman said “Spiralling living costs are stretching household budgets to their absolute limit and people are running out of ways to fund ever-increasing bills.”
No comments:
Post a Comment