Cost of Living crisis

Damning report projects this is worst parliament on record for income growth

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https://leftfootforward.org/2023/09/damning-report-concludes-this-is-worst-parliament-on-record-for-income-growth/

Average income for UK workers will be worse in 2024 than 2019, think tank predicts

This parliament is the worst on record for income growth, a think tank has concluded after research into UK living standards revealed the average income for a UK worker is projected to be 4% lower in 2024 than in 2019.

A report published today by Resolution Foundation laid out the likely backdrop of living standards for a 2024 election, and, unsurprisingly, it does not look good for the Tory Government.

Although Rishi Sunak may meet his target of halving inflation by the end of 2023, the report lays out little sign of relief from cost of living pressures into the future, predicting three-years of income stagnation for UK workers, into 2025-26.

With a looming general election, this does not bode well for the Tories, with no example of a government ever managing to retain power with such a weak median income growth since comparable records began in the 1960s.

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https://leftfootforward.org/2023/09/damning-report-concludes-this-is-worst-parliament-on-record-for-income-growth/

Continue ReadingDamning report projects this is worst parliament on record for income growth

Jeremy Corbyn annihilates Labour over ‘wealth tax u-turn’

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Image of Jeremy Corbyn MP, former leader of the Labour Party
Jeremy Corbyn MP, former leader of the Labour Party

https://www.thelondoneconomic.com/politics/jeremy-corbyn-labour-party-wealth-tax-355502/

Jeremy Corbyn, the former Labour leader who was banned from standing as a candidate for the party earlier this year, has taken an almighty swipe at Keir Starmer and Rachel Reeves, after it was confirmed that the pair would not look to implement a wealth tax if elected into office.

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Keir Starmer also confirmed last month that would retain the two-child benefit limit – despite growing calls from poverty campaigners for the cap to be abandoned. The controversial stance has divided politicians within the Labour Party.

It’s another questionable policy u-turn from Starmer, and it hasn’t gone unnoticed by Jeremy Corbyn. The two-time Prime Ministerial candidate ripped into Sir Keir, saying that a wealth tax could easily fund an extension to the two-child cap.

Corbyn also urged his successor to ‘side with those in need’:

“With the money raised from a 1-2% wealth tax on assets over £10 million, we could afford to scrap the two-child benefit cap SEVENTEEN times over. Politics is about choices — and we should be on the side of those in need, not those with greed.” | Jeremy Corbyn

https://www.thelondoneconomic.com/politics/jeremy-corbyn-labour-party-wealth-tax-355502/

Continue ReadingJeremy Corbyn annihilates Labour over ‘wealth tax u-turn’

Millions of households to face higher energy bills this winter despite price cap

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Image of cash and pre-payment meter key

https://morningstaronline.co.uk/article/splash-millions-households-face-higher-energy-bills-winter-following-ofgem-price-cap

MILLIONS of cash-strapped households are facing higher gas and electricity bills this winter despite a lower energy price cap, the labour movement warned yesterday.

Amid declining wholesale prices, regulator Ofgem announced a new average annual energy cost across Britain of £1,923 from October 1 — down from £2,074.

Typical prepayment meter customers will see their bills falls to £1,949 a year.

But experts warned a decision by Tory ministers to cut government energy support alongside an increase in compulsory standing charges would hike costs for some, while many would see little or no change.

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https://morningstaronline.co.uk/article/splash-millions-households-face-higher-energy-bills-winter-following-ofgem-price-cap

Continue ReadingMillions of households to face higher energy bills this winter despite price cap

Whitehall cleaning, security and support staff to strike for five days

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https://morningstaronline.co.uk/article/h-150-whitehall-cleaning-security-and-support-staff-strike-five-days

WHITEHALL cleaners, security guards and support staff are to strike for five days after being offered a below-inflation pay rise.

They are angry to have been offered just a 3.5 per cent rise by outsourced contractor ISS when inflation is running at 6.8 per cent, the Public and Commercial Services (PCS) union said.

Nearly 100 PCS members at the Department for Energy Security & Net Zero, Department for Business & Trade and Department for Science, Innovation & Technology are set to take action from September 4 to 8.

PCS general secretary Mark Serwotka said: “It’s obscene that ISS can afford to pay board members £988,000 — a rise of 8.9 per cent from last year — yet claim they can’t afford to pay cleaners a fair rise.

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https://morningstaronline.co.uk/article/h-150-whitehall-cleaning-security-and-support-staff-strike-five-days

Continue ReadingWhitehall cleaning, security and support staff to strike for five days

Britain’s shame: More than 120,000 children ‘destitute’

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https://morningstaronline.co.uk/article/splash-more-120000-children-uk-are-living-most-extreme-form-poverty-according-charity-survey

MORE than 120,000 children across Britain are living in the most extreme form of poverty, according to charity survey which reveals the situation is worsening.

The devastating rise in levels of destitution was branded “stark and worrying” by Buttle UK, which works with young people in crisis.

Its poll of 1,240 front-line professionals found that six in 10 of the children they work with are experiencing extreme poverty — up from 45 per cent the previous year and 36 per cent in 2021.

The London-based charity, which published its annual State of Child Poverty report yesterday, said: “The families our front-line workers are supporting includes approximately 122,000 children living in destitution.

“The year-on-year change between the last three survey cohorts dramatically illustrates the progressively worsening circumstances for children in poverty.”

The organisation described the term “destitution” as referring to the absolute lowest standard of living any adult, child or young person can experience, leading to a “lived reality which is degrading and unsustainable.”

Specifically, its study said someone is considered destitute if they have gone a month without at least two of the following — shelter, food, lighting, heating, clothing or basic toiletries.

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https://morningstaronline.co.uk/article/splash-more-120000-children-uk-are-living-most-extreme-form-poverty-according-charity-survey

Continue ReadingBritain’s shame: More than 120,000 children ‘destitute’