This event sees the launch of a new Social Market Foundation publication, Bargaining on a Low Income, which explores how policymakers can help low income households extract value from consumer markets.
Podcast of the launch event:
Speakers
Alison McGovern MP, Shadow Minister for Children and Families
John Fingleton, former Chief Executive of the Office of Fair Trading
Ben Richards, report author and researcher, Social Market Foundation
Chair
Katie Morley, Senior Personal Finance Reporter, Daily Telegraph
Date and time
Wednesday 25 February 2015, 08:30 – 10:15
Light refreshments will be served from 08:30 and the discussion will begin at 09:00
Location
Social Market Foundation
11 Tufton Street, London, SW1P 3QB – map
In the wake of the financial crisis households on low incomes saw the amount of money they spent on essential items, such as fuel and food, rise far above inflation. Unlike many middle and high income households, those on low pay seemed unable to extract value from consumers markets, meaning they paid considerably more for the same goods and services.
Drawing on new data analysis, interviews, focus groups and a nationally representative poll Bargaining on a Low Income examines why this is the case and demonstrates that low income households have very different spending patterns compared to higher income households. It also explores why consumers behave the way they do in different markets.
This launch event will explore the report’s recommendations on policy and regulation to ensure consumer markets work better for low income households.