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From: The Socialist issue 927, 30 November 2016: Time to fight low pay

Search site for keywords: Them & Us - US - Council - Homes - Housing - Cuts - Big business - Tax - Poverty - Low-paid - Minimum wage - living wage - Tories - Rich

Them & Us: Autumn Statement special!

Them and us fishes, photo Suzanne Beishon

Them and us fishes, photo Suzanne Beishon   (Click to enlarge)


Rise in over-25 minimum wage

+30p an hour - not even enough to hit the Tories' pathetic target of 9 an hour by 2020

Projected cut in low-paid income due to slowdown

-40p an hour (Resolution Foundation)


'Work allowances' benefit cut reversal

+700 million, reducing 'taper rate' cut from 65p to 63p a pound (IPPR)

Overall 'Universal Credit' benefit cuts

-3 billion (IPPR)


Housing Act: 'pay to stay' for social tenants

Dropped - unless you're already earning above an earlier threshold

Housing Act: effect on council homes

Up to 200,000 council homes will go


Investment in 'affordable' homes priced at 80% of market rate

1.4 billion, for 40,000 (un)affordable homes

Increase in council home construction

Zero


Letting agent fees

To be banned in England

Schedule for introducing ban

Non-existent


Total big business tax giveaways

8.5 billion (GMB)

'Just about managing' income

2,500 a year less by 2020 (Policy in Practice)


Extra investment for business

23 billion

New investment for the NHS

0


Corporate profits

Highest on record - 103 billion in the third quarter of 2016 (ONS)

Real wages

Below 2008 levels for at least the next five years (IFS)


Number of billionaires

Highest on record - 120 in the UK (Sunday Times Rich List 2016)

Workers in poverty

Six million earn below the Living Wage (KPMG 2015), seven million are in insecure employment (Guardian 2016)


2017 growth forecast

1.4% (OBR)

Reduction in growth forecast

-36% (March forecast was 2.2%)


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Article dated 30 November 2016

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