Britons' 'Minimum Income' Discovered by Study

A pre-tax income of £13,400 is now necessary in order for the average British singleton to achieve an "acceptable" standard of living, new analysis shows.

The "minimum income" report, conducted by the Joseph Rowntree foundation, also found that living costs for a couple with two children needs to earn £26,800 a year. Moreover, in assuming that housing would be paid for through a "modest" rent for a council property these calculations were made without factoring most people's rent or mortgage costs.

A major stress point on personal finances in the UK over recent months has been the rising costs of food and fuel. These increases have pushed up the government's benchmark inflation rate to 3.3 per cent - 1.3 per cent above its own target; some analysts have even speculated that this rate could even hit four per cent by the year's end.

According to the new report's authors, the "minimum" standard of living for the average Briton is defined as being able to cover costs of an adequate diet, sufficient heating in order to stay healthy, and the occasional night out.

The Joseph Rowntree study also found that an overwhelming majority of those people currently classified by the government as "living in poverty" had an income below the recommended minimums.