This is the 2016 update of the Minimum Income Standard for the United Kingdom, based on what members of the public think people need for an acceptable minimum standard of living.
This report shows:
- What incomes different family types require in 2016 in order to meet the minimum standard.
- Influences on the ability of families to meet the standard.
This update of minimum budgets is based on new research into what members of the public believe households require in order to have a minimum acceptable standard of living. Budgets for families with children have been researched again from scratch, for the first time since 2012. Budgets for families without children, both working age and pensioners, have been reviewed.
Overall, the report finds that the basket of minimum household requirements has been stable, with a slight reduction for couples with children seeking more economical ways of meeting the standard. In a tough economic environment, it is becoming harder for many families to achieve a minimum income.