The Minimum Income Standard (MIS) project aims to define an 'adequate' income.
It is based on what members of the public think is enough money to live on, to maintain a socially-acceptable quality of life.
The 2015 research is based on changes in living costs and the tax and benefits system. It compares incomes on benefits and on the National Minimum Wage to MIS, from 2008 to 2015
The cost of a decent standard of living, as defined by the public, has stopped rising for the first time since the recession began. However, the gap between people’s incomes and the amount they need to cover their essential costs has widened greatly since 2008.
The figures generated by MIS are used to calculate the Living Wage outside London and assess the impact of public policy on people’s living standards. JRF research has also used it to explore how far Universal Credit will help people reach an adequate income.