by BoatSurfer600
THE TUC called for more money in the pockets of working families today after it emerged that Britain’s poorest are paying up to £5,600 more a year due to the cost-of-living crisis.
Large families on low incomes have been hit the hardest by the rising costs, a Save the Children study found.
Its analysis of government statistics found the poorest third of families on incomes roughly £24,000 a year or less were forking out between £3,000 and £5,600 more this year than in 2019-20.
The shortfalls rise dramatically when housing costs are considered with many left struggling to buy the goods and services they could afford before the pandemic, the charity said.
It comes as separate analysis by TUC found pay rises for the top 10 per cent of earners were far higher than for the rest of the workforce.
The union body criticised the Bank of England for recently suggesting the country’s inflation crisis was being driven by demands by low and middle-earners for better pay.
“US Homeowners are in great financial shape”
“This isn’t 2008”
US Homeowners searching Google this month: pic.twitter.com/eS2CGeAMfS
— Amy Nixon (@texasrunnerDFW) June 25, 2023
Land of the Free, Home of The Broke
The Consumer can only absorb so much inflation t.co/lvmumbnPpe
— Amy Nixon (@texasrunnerDFW) June 25, 2023
I still can’t get over this
In 2021, over 10% of US homeowners were spending more than half their income on housing payments
THAT WAS WITH MORTGAGE RATES AT 2.8% AND HOME PRICES LOWER THAN THEY ARE TODAY
Imagine if Harvard re-does this study with today’s data… pic.twitter.com/p2wyKA5wkO
— Amy Nixon (@texasrunnerDFW) June 22, 2023