Tag Archives: average salary uk

5 ways the cost of living has changed since 1966

UK Bobby Moore World Cup postage stampHas ‘fifty years of hurt’ come by already? Saturday 30 July marks the fiftieth anniversary of English football’s finest moment, when they thought it was all over (and it was) and England’s XI won the World Cup for the first and only time with a 4-2 win over West Germany at a sun-drenched Wembley Stadium.

We thought it would be interesting to look at five ways the cost of living may have changed since 1966 – in real terms – which brought up some surprises.

1.       Buying a house – In 1966 the average cost of a house was £3,620, which equates to about £60,848 in today’s money. In contrast, the average cost of a house in the UK broke the £200,000 barrier for the first time in April 2016, going up to £313,000 in the south of England.   Continue reading

Closing the gender pay gap

Successful business woman leading a groupMarch 8th is International Women’s Day 2016, and the theme this year is #PledgeForParity.

Regulations announced on 12 February 2016 say that companies with more than 250 employees that fail to prevent pay gaps between male and female staff will be named in new league tables, a measure said to affect around 8,000 employers across the UK.

The measures won’t take place until 2018, which gives firms time to address the issue and redress the balance.

Estimates from the ONS (Office for National Statistics) in November 2015 showed that in the year to April 2015, average earnings for full-time employees increased by 1.8 per cent.  But within those figures, there were a number of gender pay gaps.   Continue reading

How much time do we actually work for?

weekend-holiday-no-more-work-300If it’s Olympic year, then it’s Leap Year! And when 29th February comes along, it means of course we’re effectively working an extra day between paydays in the shortest month.

But how much time do we spend working in the UK, compared to other countries?  Some research suggests that many of us work longer hours than we need to. A TUC study in February 2015 found that one in five (20.3 per cent) regularly work extra hours for no pay, with almost £32 billion of unpaid overtime in 2014.

In terms of annual leave, how does the UK rank?
In total, most employees are entitled to 28 days leave a year – which currently comprises 20 statutory (including pro-rata time off for part-time or temporary staff) and eight paid public holidays. Continue reading