Magazine
Latest Issue

Number cruncher

Eliminating poverty

By Stephen Nickell   May 2010

For a rich economy, Britain has high rates of relative poverty. A household is in poverty if its income, corrected for its composition, is less than 60 per cent of median income. Of British households headed by someone of working age, a little over 20 per cent are in poverty—much greater than the rate in Sweden, for instance.

The problem is the large body of working-age Britons with very low skills. This group is around 23 per cent of the working-age population, more than twice as many as in Sweden. Given the kind of market-based economy that we live in,…

Register today to continue reading

You’ve hit your limit of three articles in the last 30 days. To get seven more, simply enter your email address below.

You’ll also receive our free e-book Prospect’s Top Thinkers 2020 and our newsletter with the best new writing on politics, economics, literature and the arts.

Prospect may process your personal information for our legitimate business purposes, to provide you with newsletters, subscription offers and other relevant information.

Click here to learn more about these purposes and how we use your data. You will be able to opt-out of further contact on the next page and in all our communications.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

We want to hear what you think about this article. Submit a letter to letters@prospect-magazine.co.uk

More From Prospect