Co-op/Demos report details how people from lower socioeconomic backgrounds are far less likely to earn good incomes

A lack of social mobility is costing the UK £19bn a year, a report produced by the cross-party thinktank Demos and the Co-op has found.

The Social Mobility Commission, which advises the government, defines social mobility as “the link between a person’s occupation or income and the occupation or income of their parents”.