Pensioners have been ‘hit particularly hard’ by the recession

Both pensioners and the poorest households have been badly hit by the recent recession, according to a report produced by the Institute of Fiscal Studies (IFS) and funded by the BBC. The IFS estimates that in the three years from 2008 to 2011 real household incomes will have fallen by 1.6%, or £360 per year. This means that households are … Continue reading

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Four-to-one gap between rich and poor in UK

The tax and benefit system is obviously working in the UK to redistribute income between the rich and poor, but is it working well enough?   When we look at original income, that is income received before the impact of tax and benefits, the top 20% of households in the UK in 2007-08 received approximately 16 times more than the … Continue reading

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