We need to find a way of ensuring that a greater element of society will be able to share in the gain of increasing prosperity - though there won't be too much of that in the years to come.
A guide to their report can be found at:
http://www.resolutionfoundation.org/publications/squeezed-britain-low-middle-earners-audit-2010/
everyone always wants their children to do better than they have done in society. For future years this may not be the case, perhaps some aspirations will need to be abandoned?
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| Not keeping up with the Jones's |
The Independent Resolution foundation has just published a report which argues that millions of low to middle income earners will face years of declining living standards even when the economy does eventually pick up in 3 to 5 years time. Certain jobs it argues, which were skilled before, will be replaced by advancing technology and that will cause problems for future employability. Times are tough, but not for everyone, higher earners appear to be taking a larger share for themselves even as the economy bounces along the bottom in terms of growth.
In future years,social policy will not only need to tackle the problems of the poorest but also the problems of those who although not considering themselves as poor, have been dragged into higher tax rates which were originally destined for the very richest in society. It is all about that magic word incentives -- what incentives will the squeezed middle have in the years to come -- they probably will not be linked to monetary gain and the other incentives,apart from cash,will become a bit wearing after a while..
The other issue apart from incentives is one of aspiration,people thinking they should be somewhere better or different than where they currently are. Will the diminishing ability of people to achieve their sought after places in society cause future political problems? The demonstrations in Spain, where youth unemployment is circa 40% are a testament to what might happen in the future, if young people are not given a chance to shine.
We need to find a way of ensuring that a greater element of society will be able to share in the gain of increasing prosperity - though there won't be too much of that in the years to come.
A guide to their report can be found at:
http://www.resolutionfoundation.org/publications/squeezed-britain-low-middle-earners-audit-2010/
everyone always wants their children to do better than they have done in society. For future years this may not be the case, perhaps some aspirations will need to be abandoned?
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