Certainly true that minimum wage has outpaced all measures of AVERAGE costs: after tax + NI, minimum wage is still up 71% since 2015 (vs overall prices up 40%, 1 bed rent up 49%, food up 44%)
Certainly true that minimum wage has outpaced all measures of AVERAGE costs: after tax + NI, minimum wage is still up 71% since 2015 (vs overall prices up 40%, 1 bed rent up 49%, food up 44%)
Rent data here: www.ons.gov.uk/economy/infl...
Minimum wage I pulled from Wikipedia, and used the highest-age rate
Rent data here: www.ons.gov.uk/economy/infl...
Minimum wage I pulled from Wikipedia, and used the highest-age rate
January 2015
Median 1 bed: £736/mo
Minimum wage: £1018/mo*
Median rent = 72% of minimum wage
January 2025
Median 1 bed: £1070/mo
Minimum wage: £1792/mo
Median rent = 60% of minimum wage
* That's 40hrs/week, 47 weeks/yr
January 2015
Median 1 bed: £736/mo
Minimum wage: £1018/mo*
Median rent = 72% of minimum wage
January 2025
Median 1 bed: £1070/mo
Minimum wage: £1792/mo
Median rent = 60% of minimum wage
* That's 40hrs/week, 47 weeks/yr
Instead: start with Travel-To-Work regions, and iteratively merge regions with the most-crossed borders, until you have 10 regions or so.
Instead: start with Travel-To-Work regions, and iteratively merge regions with the most-crossed borders, until you have 10 regions or so.
Only exception is big cities, where the metro mayors should be getting the property tax receipts.
Only exception is big cities, where the metro mayors should be getting the property tax receipts.