Nearly HALF of Brits who haven't retired - 25m people - live in households that get more from the state than they pay in taxes
4 days, 5 hours ago

Nearly HALF of Brits who haven't retired - 25m people - live in households that get more from the state than they pay in taxes

Daily Mail  

Nearly half of Brits who have not retired live in households that get more from the state than they pay in taxes. The ONS figures showed the median equivalised household income before taxes and benefits was £37,300 in 2022-23 The proportion who are net beneficiaries has been rising steadily since the 1970s, but surged in Covid. The ONS figures showed the median equivalised household income before taxes and benefits was £37,300 in 2022-23. However, after all taxes and benefits were taken into account the average equivalised final incomes for the richest fifth was £82,200, 3.4 times as much as the £24,500 for the poorest fifth. After all taxes and benefits and allowing for inflation, there was a 4.7 per cent decrease in median equivalised final income compared to the previous financial year.

Benefits Taxes Cent Brits Retired Live  figures  cent  retired  live  half  equivalised  income  nearly  median  taken  households  brits  times  havent  taxes  benefits  pay  state

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More than half of households receive more cash in benefits than they pay in taxes, figures reveal
3 days, 16 hours ago

More than half of households receive more cash in benefits than they pay in taxes, figures reveal

Daily Mail  

More than half of households - or 35 million people - received more in benefits than they paid in taxes last year according to official figures. It comes as Labour grapples to bring down the £137 billion benefits bill - and after the Prime Minister promised ‘sweeping changes’. The 35 million who received more benefits than they paid in taxes …

What the Budget means for different ages: From renters and families to the retired
1 month, 2 weeks ago

What the Budget means for different ages: From renters and families to the retired

Daily Mail  

Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come. Smash-and-grab: Rachel Reeves's £40 billion tax bonanza will affect the financial wellbeing of millions of households for years to come Young workers, renting and first-time buyers First-time buyers could face paying thousands more in stamp duty after Rachel Reeves lowered key …

How retired baby boomers captured £1 in every £5 Britain spends
5 months, 3 weeks ago

How retired baby boomers captured £1 in every £5 Britain spends

The Telegraph  

Pensioners have been the biggest beneficiaries of 14 years under the Conservatives with more than £1 in every £5 spent by the Government going to the over-66s, a think tank has said. Sophie Hale from the Resolution Foundation said: “The combination of Britain’s big baby boomer generation retiring, and policies that have benefited pensioners the most, has meant that the …

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