Earnings and the Minimum Standard of Living
According to research carried out by the Joseph Rowntree Foundation, in 2011 families will need to earn 20% more than they did in 2010 to achieve the minimum acceptable standard of living.
The Joseph Rowntree Foundation looked into how much different categories of people need to earn to achieve what is considered an acceptable standard of living. It suggests that a couple with two children would need to earn on average 18,400 each (36,800 between them) if they both work, or if only one is working s(he) needs to earn 31,600. To achieve this standard of living single people need to earn 15,000 and a lone parent with one child 18,200.
Exactly how much is needed is a fairly ambiguous debate as different people have different opinions as to what is a “minimum” standard of living, as well as what is realistic. The part of the country that someone lives in is also relevant. For example, this research takes rent as being for a council house / flat, and it is not realistic for everyone earning the amounts outlined above to be entitled to a council property. In reality many will need to pay double this amount in rent (adding between 3,000 and 5,000 a year in rent alone).
So, what is the definition of the minimum standard of living?
According to the Joseph Rowntree Foundation’s research it includes UK holidays (but not holidays abroad), Christmas present, basic mobile phones, and a computer and the internet. It doesn’t, …Earnings and the Minimum Standard of Living Read More