The Future of Family Incomes | How key tax and welfare changes will affect families to 2020
Childrens Society | Sam Royston | February 2016
The Future of Family Incomes: How key tax and welfare changes will affect families to 2020, reveals for the first time the collective impact of a range of welfare, tax and benefit measures announced, but not yet introduced, by the current and previous governments.
While some changes, such as the introduction of a higher minimum wage, might increase household incomes by 2020, others will cancel out any gains by significantly cutting key support for many families.
The changes are expected to impact various family types in the following ways for people making new claims in 2020:
- A 23-year-old primary school teacher and single mum of two children renting their home could be worse off by £239 per month, or £2,868 per year.
- A nurse and her partner with three children, renting in London, could be worse off by £425 per month, or £5,100 per year.
- An army corporal and his partner with three children, including one who is disabled, who own their home, could be worse off by £771 per month, or £9,252 per year.