Tom Wernham
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View article: Living standards, poverty and inequality in the UK: 2024
Living standards, poverty and inequality in the UK: 2024 Open
What has happened to living standards since the pandemic?1. Between 2021-22 and 2022-23, median household income before housing costs (BHC) fell by 0.5%.As a result, median income in 2022-23 was 1.6% lower than in 2019-20.This is equivalen…
View article: The distributional impact of tax and benefit reforms since 2010
The distributional impact of tax and benefit reforms since 2010 Open
The past 14 years have witnessed an enormous amount of reform to the tax and benefit system. While it is tempting for politicians to draw attention to one set of reforms or another, what matters for household incomes is the whole system. I…
View article: The Employment and Distributional Impacts of Nationwide Minimum Wage Changes
The Employment and Distributional Impacts of Nationwide Minimum Wage Changes Open
We assess the impact of nationwide minimum wages on employment throughout the whole wage distribution by exploiting geographical variation in the level of wages. We find a substantial increase in wages at the bottom of the wage distributio…
View article: Living standards since the last election
Living standards since the last election Open
New income statistics suggest this parliament is on course to be the worst for living standards on record.
View article: Tax and spending in 2024–25
Tax and spending in 2024–25 Open
This chapter of our second annual Budget Report looks at Scottish tax policy and revenue, the overall amount of funding available for Scottish public services, and planned spending on different individual services in the coming financial y…
View article: Trends in income and wealth inequalities
Trends in income and wealth inequalities Open
This article brings together trends in inequalities in income, wealth and, to a limited extent, consumption in the United Kingdom, with a focus on trends until the onset of the COVID-19 pandemic. It considers how trends in wealth compare w…
View article: Housing costs and income inequality in the UK
Housing costs and income inequality in the UK Open
The next wave of Programme for International Student Assessment (PISA) data will be published in December 2023. This will relate to PISA tests taken in 2022, the first wave of data after the COVID-19 pandemic. In advance of these new data,…
View article: Employment, earnings and incomes in Scotland
Employment, earnings and incomes in Scotland Open
How have employment, earnings and incomes performed in Scotland compared with the rest of the UK? What drives geographic inequalities within Scotland?
View article: Twenty‐five years of income inequality in Britain: the role of wages, household earnings and redistribution
Twenty‐five years of income inequality in Britain: the role of wages, household earnings and redistribution Open
We study earnings and income inequality in Britain over the 25 years prior to the COVID‐19 pandemic. We focus on the middle 90 per cent of the income distribution, within which the gap between top and bottom in 2019–20 was essentially the …
View article: Living standards, poverty and inequality in the UK: 2023
Living standards, poverty and inequality in the UK: 2023 Open
We investigate how living standards have changed for different groups in the UK, with a particular focus on the cost of living payments and housing.
View article: Living standards, poverty and inequality in the UK: 2023
Living standards, poverty and inequality in the UK: 2023 Open
Taper rate reduction introduced £20 pw uplift in place Uplift Taper rate reduction UC uplift had larger impact on poverty rates Poverty
View article: Housing quality and affordability for lower-income households
Housing quality and affordability for lower-income households Open
1 Housing quality and affordability for lower-income households Key findings1. Facing higher housing costs, renters are considerably more likely than owneroccupiers to have low living standards on a variety of measures.Social and private r…
View article: Who has low savings and how problematic can that be?
Who has low savings and how problematic can that be? Open
Policy concern: many working-age people have low
View article: Characteristics and consequences of families with low levels of financial wealth
Characteristics and consequences of families with low levels of financial wealth Open
Many families have little or no savings to access on a 'rainy day'. We examine the types of families with low savings and what the consequences are.
View article: The cost of living crisis: a pre-Budget briefing
The cost of living crisis: a pre-Budget briefing Open
The recent surge in inflation, driven by spectacular increases in energy prices, has driven sharp falls in household living standards, huge government intervention to try to mitigate it, and serious policy headaches. As such it continues t…
View article: Scottish Budget 2023–24: further analysis
Scottish Budget 2023–24: further analysis Open
The aim of this report, the IFS's first in-depth analysis of the Scottish Government Budget, is to look at some of the key implications for the coming year, and for the longer term. We do not attempt to cover all of the different services …
View article: Analysis of Scottish tax and benefit reforms
Analysis of Scottish tax and benefit reforms Open
We analyse the impact of changes to devolved income tax rates and bands and benefits, and show the total impact of the changes.
View article: Trends in income and wealth inequalities
Trends in income and wealth inequalities Open
This chapter brings together trends in inequalities in income, wealth and, to a limited extent, consumption in the United Kingdom, with a focus on trends until the onset of the COVID-19 pandemic.
View article: Trends in income and wealth inequalities
Trends in income and wealth inequalities Open
Key findings1. Now that interest rates are rising, the interaction of quantitative easing (QE) with the Bank of England's current methods for implementing monetary policy will add to strains on the public finances.These could, and arguably…
View article: Reforms, roll-outs and freezes in the tax and benefit system
Reforms, roll-outs and freezes in the tax and benefit system Open
1 5. Reforms, roll-outs and freezes in the tax and benefit system
View article: Inequality and the Covid crisis in the United Kingdom
Inequality and the Covid crisis in the United Kingdom Open
We review the effects of the COVID-19 pandemic on inequalities in education, the labor market, household living standards, mental health, and wealth in the United Kingdom. The pandemic has pushed up inequalities on several dimensions. Scho…
View article: The distributional and employment impacts of nationwide Minimum Wage changes
The distributional and employment impacts of nationwide Minimum Wage changes Open
We estimate the effect of the introduction of the UK's National Living Wage in 2016, and increases in it up to 2019, using a new empirical method. We apply a bunching approach to a setting with no geographical variation in minimum wage rat…