Will the 2015 Summer Budget improve living standards in 2020?

Since 2008, research on the Minimum Income Standard (MIS) has identified what different household types need for a minimum acceptable living standard, based on what goods and services members of the public say are needed.

This study projects the disposable incomes of households on out-of-work benefits and minimum wages, comparing them with MIS between 2010 and 2020.

The report estimates:

  • how far various types of non-working household will fall short of meeting a Minimum Income Standard in 2020, compared with 2010 and 2015;
  • how the income of households where people work full-time on minimum wages will compare to this standard in 2020, compared with 2010 and 2015;
  • the influence of public policy and inflation rates on these results.

Do you earn enough? A calculator lets you compare your income to MIS.

Minimum income standards in 2020

MIS 2020 infographic

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