An announced increase in council funding is reliant on rising Council Tax, and still amounts to a real-terms cut when population growth is taken into account, says the Institute for Fiscal Studies.
Mean property and financial wealth in London and the South East grew 150 per cent and 50 per cent, respectively, in the decade up to 2018. In contrast, it increased by just three per cent in the North East of England.
In general, institutions with a large share of international students and those with substantial pension obligations will face the biggest falls in income or increases in costs.
Over the last decade, young people starting out in the labour market have increasingly been working in relatively low-paid occupations, many of which are in sectors hardest hit by the COVID-19 crisis.
The COVID-19 crisis hit after the weakest decade of growth in incomes since comparable records began. Years of stalled productivity and poor earnings growth, and deep cuts to working-age benefits had been a further drag on the living standards of many lower-income households.
A new report says different areas of England will be affected by the virus in a unique way, which means the impact on health, jobs and families will evolve differently within each area