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REGIONAL DIFFERENCES – POSSIBLE OUTCOMES
In yesterday’s budget one line , which didn’t seem to be picked up by the press but was, very clearly, noticed by the Tory backbenchers was:
the Opposition have proposed the interesting idea of regional benefit rates.
So I decided to do a very rough and ready look at possible effects of regionalising benefits.
Using figures sourced from the IFS:
|Public Sector Premium (%)||Median Income (local prices)||Median Income (uniform prices)|
|Yorkshire / Humber||10.5||97.2||92.1|
Table 1: Income Data
- There is no metric that produces a ‘fair’ outcome across the country as Public Sector Premium is not correlated to local costs of living
- Minimum Wage for a 40 hour week could be between £210.80 and £275.60
- The choice of Metric can have huge consequences eg A Scale 1 teacher in Wales could be on a salary of £18,284 or £23,516 depending on Metric used