The perfect Storm - Economic stagnation, the rising cost of living, public spending cuts and the impact on UK poverty

Year of publication
2012
Author
Moussa Haddad (Oxfam)
Abstract

The paper outlines the reality of the challenges faced by people living in poverty. It discusses the combined impact of the challenges faced by those living in poverty ? now a fifth of the population ? is brewing into a ?perfect storm? pushing already fragile livelihoods to breaking point. The paper discusses the challenges faced by those living in poverty; rising unemployment and declining incomes, increasing cost of living, public service cuts and others. One of the main points these challenges highlighted was that there are large inequalities amongst the population and if these continue it will soon mimic the Victorian divide. The paper also suggests some responses to the challenges it has highlighted. One such idea is that the Government should prioritise and target social and economic investment, this way it can ensure it protects the services upon which those in poverty most rely, while helping to boost demand and provide investment in the long term productive capacity of the economy.

 
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