Today NEF published a really important piece ofresearch exposing the failure of‘levelling up’ since the 2019 election. It shows howboth income and regional inequality have grown significantly.
Key findings include:
- The incomes of half of families have fallen by an average of £110 a year
- The richest 5% are £3,300 a year richer
- There are 300,000 more people in poverty
- The income gap between UK regions has widened
- Single parents and pensioners have been hit the hardest
Worse still, things look certain to deteriorate further. We need new approaches,starting with aLiving Income, which sets an‘income floor’ that ensures everyone has enough to live on in these challenging times.
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