In a report published on Monday, the think tank said too many families faced the current crisis already struggling with low incomes, scant savings and ungenerousAdjusted for inflation, the disposable income of a typical household grew just 0.7% annually in the 15 years before the Covid pandemic, and the poorest fifth of the population were no better off at all, theperformance that has depressed pay levels and entrenched decades of inequality.
“To do that, we must address our failure to raise pay and productivity levels, strengthen our social safety net, reduce housing costs and build on what we’ve done well – such as boosting employment for lower-income households.” The foundation was not universally critical, however. Employment and hours also mattered for income growth, and on that score the UK had a good record recently, it said.
Source: News Formal (newsformal.com)
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
There’s no escaping soaring food prices for UK shoppersUK shoppers seeking to avoid higher bills at the checkout are running out of options after prices on more than half of supermarket items rose in the past year.
Source: TimesLIVE - 🏆 28. / 59 Read more »
Source: News24 - 🏆 4. / 80 Read more »
Source: Moneyweb - 🏆 5. / 77 Read more »
Source: eNCA - 🏆 49. / 51 Read more »
Source: TheSAnews - 🏆 25. / 59 Read more »
PODCAST: Gqeberha 2022 is not Cape Town 2018'We need political stability to get to economic stability,' Nelson Mandela Bay Business Chamber CEO Denise van Huyssteen tells Peter Bruce as they chart their way through Gqeberha's approaching water crisis Bruceps Thanks for restoring my happiness in my darkest days, during those period I invested $500 and to my greatest surprise I got a return of $5,500 in just seven days he's reliability can't be equated BernardMason07 Bruceps I failed to understand why this water crisis cannot be the same as the CT one.There were serious blunders & inefficiencies made in the CT water crisis. Now we choose to focus on politics instead focusing on lessons learnt.This campaign of 'us and them' is bad. Provide solutions!
Source: FinancialMail - 🏆 20. / 63 Read more »