IPPR, the Institute for Public Policy Research, is theUK’s leading progressive thinktank. We producerigorous research and innovative policy ideas for a fair,democratic and sustainable world.We are open and independent in how we work, andwith ofces in London and the North of England, IPPRspans a full range of local and national policy debates.Our international partnerships extend IPPR’s inuenceand reputation across the world.IPPR4th Floor14 Buckingham StreetLondon WC2N 6DF T: +44 (0)20 7470 6100E: email@example.comRegistered charity no. 800065 This paper was rst published in July 2013. © 2013 The contents and opinions expressed in this paper arethose of the author(s) only.
ABOUT THE AUTHORS
is senior economist and associate director for economic policy at IPPR.
is a senior research fellow at IPPR.
The authors would like to Graeme Henderson and Imogen Parker for research support,and Graeme Cooke, Richard Exell, Nicola Smith and Jonathan Wadsworth for commentson earlier drafts.IPPR would like to thank the TUC and PCG for their generous support of this project.