According to the official Office of National Statistics’ latest report, 19.3 million persons in the UK had an income below 60% of the national median at some point during 2010-13. That is nearly a third of the entire population, and a higher proportion than for the EU as a whole.
The UK figures are even higher for pensioners (40%) and single-parent households (60%). These statistics are awful for the sixth largest economy in the world, but there is a deeper hypocrisy behind them. At the general election the Tory manifesto and Cameron’s speeches resonated with calls for aspiration for everyone. So what are the aspirational chances for the 20 million people at the bottom of the pile when Osborne’s first act in the new government is to target them? Continue reading