Thursday, April 11, 2013

One month and it is on the streets

Some 35% of workers - around 8.6 million people - do not have enough money put aside to meet their housing needs beyond four weeks, Shelter found.

One in three people would struggle to pay their rent or mortgage within a month of losing their job.

Around a fifth of Britons - roughly 4.4 million people - would be at risk of becoming homeless immediately.
The survey found families with children would fare even worse in the event of redundancy.Around two in five parents said they could not afford to pay for their home for more than a month, while a quarter said they could not meet their payments at all.

Campbell Robb, chief executive of Shelter, said: "These figures paint an alarming picture of a nation where the buffer between having a home and potentially becoming homeless is a single pay cheque. Millions are living on the edge of a crisis, only secure in their homes for a matter of weeks. At the same time, support for people who have lost their homes is being stripped away. It's easy to see why every 15 minutes, another family in England finds themselves homeless."

Meantime a survey by the Chartered Institute of Management shows that chief executives (CEOs) enjoyed a 15.8 percent increase in their salaries in the past year, largely made up of bonuses. According to the survey, the basic salary of chief executives rose by 1.8 percent last year, but "leapt" to 15.8 percent when bonuses were added. The average annual company chief executive salary stood at more than $325,000 compared with the annual minimum wage of $16,000. The average chief executive is taking home almost 20 times as much as in 1973. In 1973  a typical chief executive earned less than three times as much as a middle manager; today they earn nearly five times as much.



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