JRF's annual update, based on what members of the public think people need to achieve a socially acceptable standard of living.
Over time, changes in prices alter the cost of a minimum standard of living, and changes in social norms will change the 'minimum' that is required. This study considers both of these elements, and updates the budgets to April 2010.
The study reveals:
- What different family types need to earn to meet the minimum income standard.
- How much the cost of a minimum household budget has risen over the last decade and since the recession.
- The effect of tax allowances and tax credit thresholds, and how the recent Budget announcements could affect people on low incomes.
This research shows that, despite the recession, members of the public involved in this research still believe that as a minimum, people need things that allow them to participate in society.