This report shows:
- the incomes different family types require in 2017 to meet the minimum standard
- how the cost of a minimum household budget has changed since the last update in 2016, and
- how the incomes of people on benefits, and of those working on the National Living Wage, compare to what they need according to MIS.
It recommends two main actions:
- The Government should lift the freeze on working-age tax credits and Universal Credit, so that support keeps up with the rising cost of living.
- Alongside this, the Government should lift the freeze on the Work Allowance, so that families can keep more of their earnings.
Use our updated Minimum Income Calculator to work out whether you earn enough for an acceptable standard of living.