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Thursday, 12th July 2012
A Minimum Income Standard for the UK in 2012
Source: Joseph Rowntree Foundation
Key points:
A single person in the UK needs to earn at least £16,400 a year before tax in 2012, to afford a minimum acceptable standard of living. Two parents need to earn at least £18,400 each to support themselves and two children.
Members of the public have not fundamentally altered their view of what comprises a minimum acceptable standard of living in the UK since the original MIS {Minimum Income Standard} published in 2008.
In some areas of life, however, the minimum has gone down. For example, in today's harsher economic climate, pensioners and families with children specified lower minimum budgets for eating out and for exchanging Christmas and birthday presents.
In other areas, new requirements have emerged since 2008. Computers and the internet are now considered necessities for all working-age families. Families with children living in urban areas outside London stated that a car has become essential to meet an acceptable living standard.
Since 2008, actual incomes have risen much more slowly than minimum income requirements. While required earnings for single people have risen in line with prices, for families with children they have risen much faster than this – by 16 per cent more than inflation for a couple with two children. In addition to the effect of higher living costs, cuts in tax credits for families with children have outweighed the benefit of higher tax allowances.
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By Adrian Janes
Having begun his career in academic libraries, Adrian Janes is currently an Information Services Librarian with the London Borough of Havering.
In this role, he has particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by Free Pint Ltd. in 2007. He is also involved in training and publicising online reference resources and is a regular contributor to DocuTicker.
Adrian can be reached at adrian.janes@freepint.com
More articles by Adrian Janes »
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