The current cost of living crisis is unprecedented in its size and scale, according to a new report authored by a Manchester Metropolitan University academic.
Professor Ashwin Kumar has written a policy brief which outlines eight steps that could be taken to alleviate the effects of high inflation, low wages and a drop in benefits.
The report was commissioned by ReWAGE, an independent expert advisory group that is co-chaired by Warwick and Leeds Universities and which focuses on the recovery and renewal of work and employment in the UK as it tackles the economic impact of COVID-19.
Their research supports the government’s ‘build back better’ and ‘levelling up’ agendas by “providing evidence to enable a strategic response to jobs’ recovery and renewal.”
Professor Kumar is an economist specialising in the analysis and modelling of incomes, poverty, and the labour market. Prior to joining Manchester Metropolitan as Professor of Social Policy, he was Chief Economist of the Joseph Rowntree Foundation and economic adviser to Gordon Brown.
Professor Kumar’s briefing outlines a series of recommendations to tackle the cost-of-living crisis, including the timely uprating of benefits and of the Benefit Cap to match inflation, providing additional support through the benefit system, considering higher increases in the minimum wage, and reviewing support through the benefit system for low-come homeowners with mortgages if rates rise sharply.
Professor Kumar, who is also Deputy Director of the Policy Evaluation Research Unit at Manchester Metropolitan, said: ““Many of these actions are straightforward, potentially quick to implement and would have little impact on the overall rate of inflation. They are what is needed right now to help the millions of families across the UK who are struggling with their finances and having to make some very difficult choices.”
