Families with two children now need a household income of £36,800 a year just to maintain an acceptable standard of living, according to new research.
The cost of "getting by" has risen by nearly a third for families since 2008 because of inflation and rising household bills, the report by the Joseph Rowntree Foundation (JRF) found. A lone parent with one child needs to earn £23,900 to reach an adequate standard of living, while single people need to earn £16,400 a year. This means earning an hourly wage of at least £8.38 for a single person, £9.39 each for a couple with two children and £12.20 for a lone parent with one child.
Pensioner couples need £231.48 a week, which is attainable providing they claim all the support they are entitled to. One person in four in the UK is estimated to live below this minimum income standard (MIS) – three million more than in 2008.Reuse content