This video is called Poverty hits British families.
By Will Stone in Britain:
Boom for rich as we go bust
Sunday 29 April 2012
Britain’s richest 1,000 people calmly raked in record profits last year, booming to a combined wealth of £414 billion while the rest of the country endures the wage freezes and redundancies of recession.
And the cost of an entry ticket to the exclusive club rose again – if you don’t have £72 million you aren’t getting in.
The 2012 rich list released on Sunday, which campaigners said “lays bare stark levels of inequality” in the country, shows a rising number of billionaires, up to 77 from the previous high of 75 in 2008.
The asset total represents a 4.7 per cent rise on last year and surpasses the previous high of £412.85bn, reached just months before the 2008 financial crash.
Meanwhile Britain is experiencing record levels of unemployment and a double-dip recession that Labour leader Ed Miliband said has been caused by the government’s “catastrophic” economic policies.
A spokeswoman for campaign group UK Uncut commented: “This year’s rich list lays bare the stark levels of inequality in Britain.
“While the rich are wealthier than ever there are record levels of unemployment and a double-dip recession caused by government austerity measures.
“The government need to find alternatives to its cuts-obsessed agenda. There should more transparency in the levels of tax paid by these billionaires and tougher measures to clamp down on tax avoidance.”
She added that the rich have a duty to put more of their new-found wealth to good causes.
Conservative Party donor Lakshmi Mittal tops the list with a personal wealth of £12.7bn. The steel magnate, whose non-dom status means he doesn’t pay tax on his main overseas holdings, has been Britain’s richest man since 2005.
Chelsea FC owner Roman Abramovich (also a non-dom) came third with £9.5bn.
The richest woman in Britain is former Miss UK Kirsty Bertarelli who shares a £7.4bn fortune with her husband Ernesto.
This year’s annual Sunday Times Rich List reveals that the wealth of the super-rich in Britain has grown by 4.7 percent, to reach a new high of more than £414 billion: here.
Elderly people living in the poorest places get ill up to 15 years earlier than those in wealthy areas, a study shows: here.
Britain faces worst recession since 1930s: here.
The latest Sunday Times Rich List recorded a massive increase in wealth for the super-rich in the United Kingdom: here.
Bumper bonus payments have helped Britain’s top bosses take home an extra 14 per cent over the past year, pay analysts IDS revealed yesterday: here.
Eight companies where executives are paid 1000 times more than employees: here.
The profits of the biggest US banks continued to swell in the second quarter of this year, even as the impact of five years of mass unemployment, stagnant economic growth and brutal cuts in social spending produced a further rise in poverty, homelessness and hunger: here.
Richest 300 Persons on Earth Have More Money Than Poorest 3 Billion: here.
“There Are Marxists in India?”: Economist Prabhat Patnaik on the Global Crisis: here.
The wealth of the top 50 Australians increased by 49 percent over the past three years: here.
Households with more than a million (US) dollars in private wealth are projected to own 46 percent of global private wealth in 2019 according to a new report by the Boston Consulting Group (BCG): here.
- Austerity, but not for billionaires (dearkitty1.wordpress.com)
- Other UK business news: Rich getting richer ‘good for job creation and tax’ (birminghampost.net)
- Need to Read: Forbes Rich List: Anger at the few or winners at the top and bottom? (walesonline.co.uk)
- Britain’s Super-Rich Just Keep Getting Richer (dprogram.net)
- British government against women (dearkitty1.wordpress.com)
- ‘Squeezed middle’ is too cuddly a term for the harm done to British wages | Ian Jack (guardian.co.uk)
- Rant: The Government (funnymonkeydan13.wordpress.com)
- Margaret Thatcher dies, reactions (dearkitty1.wordpress.com)
- Pablo Eisenberg: The Rich Are Getting Richer, but They Still Don’t Do Enough for the Poor (huffingtonpost.com)
- Rich Spaniards richer, poor Spaniards poorer (dearkitty1.wordpress.com)