WHAT THE CHANGES ANNOUNCED WILL ACTUALLY MEAN...
FAMILY 1: Single adult, no children, not working
Weekly income before new announcements: £77
Weekly gain from taper rate and work allowance: £0
Total loss from higher cost of living due to... a) increase in energy prices: -£7 b) overall cost of living increase: -£6 c) increase in National Insurance and impact of inflation on earnings: £0
Overall weekly gain or loss after measures and cost of living: -£13
FAMILY 2: Single parent, with one young child (assume age five), part-time 16 hours per week
Weekly income before new announcements: £278 Weekly gain from taper rate and work allowance: £8
Total loss from higher cost of living due to... a) increase in energy prices: -£7 b) overall cost of living increase: -£8 c) increase in National Insurance and impact of inflation on earnings: -£1 Overall weekly gain or loss after measures and cost of living: -£8
FAMILY 3: Couple with two young children (assume seven and five). One-full time worker
Weekly income before new announcements: £433 Weekly gain from taper rate and work allowance: £19
Total loss from higher cost of living due to... a) increase in energy prices: -£7 b) overall cost of living increase: -£13 c) increase in National Insurance and impact of inflation on earnings: -£3 Overall weekly gain or loss after measures and cost of living: -£4
FAMILY 4: Single parent, with one young child (assume age five), full-time 35 hours per week
Weekly income before new announcements: £333 Weekly gain from taper rate and work allowance: £19
Total loss from higher cost of living due to... a) increase in energy prices: -£7 b) overall cost of living increase: -£8 c) increase in National Insurance and impact of inflation on earnings: -£3 Overall weekly gain or loss after measures and cost of living: £1
Family 5: Couple with two children (assume seven and five). One fulltime worker (35 hrs), one PT (16 hrs) Weekly income before new announcements: £489
Weekly gain from taper rate and work allowance: £31
Total loss from higher cost of living due to... a) increase in energy prices: -£7 b) overall cost of living increase: -£13 c) increase in National Insurance and impact of inflation on earnings: -£4 Overall weekly gain or loss after measures and cost of living: £7