Analysis of today's ONS Family Spending publication by The Equality Trust has found that the richest 10% of households spend more on eating out (£58.40) than the poorest 10% of households spend on housing, fuel and power combined (£44.50). The Equality Trust also found:
Income and Employment
Less than a third of FTSE 100 companies are Living Wage accredited. The new Living Wage was announced today, rising to £8.45 in the UK, and £9.75 in London, but only 29 of the UK’s largest companies are officially signed up to pay the Living Wage.
Meanwhile, at the other end of the scale, the average pay for a FTSE 100 CEO rose 10% last year to £5.5m, 341 times more than the new UK Living Wage, and 296 times the new London Living Wage.
Over 6.5 million households are in debt, or face the prospect of falling into debt within a month, should they lose their jobs, according to new research from The Equality Trust. Over 40 per cent of non-retired households have too little saved to pay even a month’s worth of household bills, the research finds.
Today's Annual Survey of Hours and Earnings (ASHE) publication by the Office for National Statistics has shown a fall in the pay gap between the richest and poorest ten per cent, and a slight narrowing of the gender pay gap. Responding to the publication, Executive Director of The Equality Trust, Dr Wanda Wyporska, said:
New analysis by the Resolution Foundation has predicted a slow reduction in low pay. The Resolution Foundation has warned that post-Brexit uncertainty makes it unlikely that previous forecasts that pay will reach £9 an hour by 2020 will be met.
Responding to this analysis, Executive Director of The Equality Trust, Dr Wanda Wyporska, said: