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families are being dealt a damaging triple financial blow in the
recession, according to the new Minimum Income Standard for the
UK in 2012 (MIS) report published by the Joseph Rowntree Foundation (JRF) this week.
The minimum that a couple with two children now needs to earn
for an acceptable standard of living is £36,800. This figure has
risen by nearly a third since 2008 - twice the rate of
Today's report finds that couples with two children have been
hit in three areas:
To reach an adequate standard of living:
The research has found a quarter of the UK's population live
below MIS - 3 million more than in 2008.
Despite the squeeze, the public have not fundamentally changed
their views of what is necessary to have an adequate standard of
living. However, the research shows that people are being thrifty.
For example, people said households can cut back on exchanging
gifts and shopping around for deals and vouchers when eating out,
and still achieve an acceptable minimum.
Since 2008, the Minimum Income Standard for the UK (MIS)
research has tracked what members of the public think people need
to have a socially acceptable standard of living and how much money
this means different households (working age people with and
without children and pensioners) need to reach this standard.
Read the Minimum
Income Standard for the UK in 2012 (link opens in a new
Rowntree Foundation press release (link opens in a new
Guardian news article (link opens in a new window)
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