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Social Policy in a Cold ClimatePolicies and their Consequences Since the Crisis$
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Ruth Lupton, Tania Burchardt, John Hills, Kitty Stewart, and Polly Vizard

Print publication date: 2016

Print ISBN-13: 9781447327714

Published to Policy Press Scholarship Online: January 2017

DOI: 10.1332/policypress/9781447327714.001.0001

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Socioeconomic inequalities

Socioeconomic inequalities

(p.245) Eleven Socioeconomic inequalities
Social Policy in a Cold Climate

John Hills

Kitty Stewart

Policy Press

This chapter examines overall trends in socio-economic differentials in the aftermath of the 2007 financial crisis, covering both the 2007-2010 Labour administration under Gordon Brown and the Coalition Government 2010-2015. It explores trends in male and female employment and in wages for higher- and lower-paid men and women. It also discusses changes in income poverty and inequality, wealth inequality, and the distribution of benefits in kind. It presents a complex picture: employment fell following the crisis, but more slowly than might have been expected, with falling wages and rising earnings inequality the more striking features. Yet overall income inequality fell sharply in 2010/11 and up until 2013/14 neither income poverty nor inequality in household income rose, reflecting the protection of benefit and pension levels in real terms through most of the period. There was no sign of a wealth differentials narrowing or a reduction in wealth holdings at the top.

Keywords:   employment, wages, income inequality, poverty, financial crisis

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