The Joseph Roundtree Foundation has released its annual update of a Minimum Income Standard (MIS) for the UK – the amount of earnings, as a society, is deemed necessary for an acceptable standard of living.
A single person needs to earn £25,500 a year to reach a minimum acceptable standard of living. This is an increase on the 2021 MIS, largely due to the rapidly rising cost of living and also changes to what is needed for a minimum living standard, for example activities outside the home for social participation.
The full report and research findings are available to download here, including a minimum income calculator for support with working out earnings.
