This report examines how material living standards - most commonly measured by households' incomes - have changed for different groups in the UK, and the consequences that these changes have for income inequality and for measures of deprivation and poverty. This is the 22nd annual report...

Per capita gross domestic product (GDP) is a poor indicator of economic well-being. It measures effective consumption poorly (ignoring the value of leisure and of longer life spans) and it also ignores the value of accumulation for the benefit of future generations. Since incomes are uncertain...