British 1% and 99%, more inequality than ever

This video says about itself:

Wealth inequality in the UK

8 October 2013

Inequality has been rising for 30 years. The gap between rich and poor is the widest since the second world war. If current trends continue, we will have reached Victorian levels of inequality in 20 years. Sign up to our weekly email briefings to get the full facts.

By Sofia Lotto Persio in Britain:

Britain: a NATION of have-nots

Tuesday 13th September 2016

Just 1% of richest people now own nearly a quarter of the country’s entire wealth

THE richest 1 per cent of Britain’s population owns almost more than 20 times the total wealth of the poorest fifth, according to a shocking new report by Oxfam.

The charity’s findings show that around 634,000 of the wealthiest people are worth 20 times as much as the poorest 13 million — making Britain one of the most unequal countries in the developed world.

It also revealed that over half of the country’s wealth is concentrated in the richest 10 per cent of the population, while the poorest 20 per cent shares barely 0.8 per cent of Britain’s wealth between them.

Oxfam UK programme head Rachael Orr said: “The UK is one of the richest countries in the world, but it’s a nation divided into the haves and have-nots. While executive pay soars, one in five people live below the poverty line and struggle to pay their bills and put food on the table.”

The charity has put forward a four-point plan to shake-up corporate culture and stamp out inequality, including giving employees greater representation on company boards and ending tax avoidance and closing British-linked tax havens.

It has also suggested that the most highly paid person at a firm earn no more than 20 times the salary of the lowest-paid worker to help narrow the wage gap.

“Addressing the practices of unscrupulous business needs to be a central part of the government’s plans to even up the economy,” said Ms Orr.

TUC general secretary Frances O’Grady welcomed the report recommendations.

Corporations’ role in amassing vast amounts of wealth was highlighted in a Global Justice Now study released yesterday, showing that corporations make up 69 per cent of the world’s 100 richest entities. US transnational retailer Walmart is worth more than Spain, Australia and the Netherlands.

In 2000, corporations already represented 51 per cent of the world’s top economic entities and this trend has increased relentlessly throughout the years.

Global Justice Now director Nick Dearden said the British government has facilitated the rise in corporate power through tax structures, trade deals and even aid programmes that help big business.

“The vast wealth and power of corporations is at the heart of so many of the world’s problems,” he said.

The drive for short-term profits today seems to trump basic human rights for millions of people on the planet. These figures show the problem is getting worse.”

The UK is one of the most unequal countries in the world, according to Oxfam: here.

Earlier this month, economists Thomas Piketty, Emmanuel Saez and Gabriel Zucman, leading experts on global inequality, released a groundbreaking study on the growth of income inequality in the United States between 1946 and 2016: here.

Britain: Income Inequality On Fat Cat Thursday bosses rake in as much money as the average worker makes all year. TUC research shows that bosses are paid 120 times the average worker’s wage: here.

Inequality: Britain’s richest plot to stash cash away from the reach of a Corbyn government. According to an investment management company, the super-rich are worried about a ‘hard-left government led by Jeremy Corbyn and John McDonnell’: here.

Three reports expose extreme inequalities in Britain: here.


44 thoughts on “British 1% and 99%, more inequality than ever

  1. Pingback: British Conservative David Cameron, buh bye! | Dear Kitty. Some blog

  2. Pingback: Re-elected British Labour leader Corbyn thanks supporters | Dear Kitty. Some blog

  3. Pingback: Climate change, pessimism and optimism | Dear Kitty. Some blog

  4. Pingback: Caravaggio exhibition in London | Dear Kitty. Some blog

  5. Pingback: TTIP-style deals help extreme right | Dear Kitty. Some blog

  6. Pingback: The Bank of England and Karl Marx | Dear Kitty. Some blog

  7. Pingback: Aquarius, Brazilian film on gentrification | Dear Kitty. Some blog

  8. Pingback: More British homeless children than ever this Christmas | Dear Kitty. Some blog

  9. Pingback: Corporate media and fake news, interview | Dear Kitty. Some blog

  10. Pingback: Big London demonstration against Theresa May-terrorist coalition | Dear Kitty. Some blog

  11. Pingback: 100,000-300,000 march in London against Conservative-terrorist coalition government | Dear Kitty. Some blog

  12. Pingback: Grenfell Tower disaster, Londoners interviewed | Dear Kitty. Some blog

  13. Pingback: Herald, computer game on colonialism | Dear Kitty. Some blog

  14. Pingback: London Grenfell Tower disaster and inequality | Dear Kitty. Some blog

  15. Pingback: Trump squanders billions on warship | Dear Kitty. Some blog

  16. Pingback: British Conservatives kowtow to Trump, parody song | Dear Kitty. Some blog

  17. Pingback: British World War II veteran on today | Dear Kitty. Some blog

  18. Pingback: Theresa May’s unequal Britain | Dear Kitty. Some blog

  19. Pingback: British capitalist says capitalism not working | Dear Kitty. Some blog

  20. Pingback: Scottish Blairite politician’s Freudian slip on inequality | Dear Kitty. Some blog

  21. Pingback: Billionaires richer again | Dear Kitty. Some blog

  22. Pingback: Barons in the 21st century | Dear Kitty. Some blog

  23. Pingback: More Grenfell-style fire disasters in Britain? | Dear Kitty. Some blog

  24. Pingback: Heroes and villains of 2017 | Dear Kitty. Some blog

  25. Pingback: Rich getting richer and richer | Dear Kitty. Some blog

  26. Pingback: Tony Blair against Brexit, Ramones parody song | Dear Kitty. Some blog

  27. Pingback: British demonstrations against Turkish invasion of Syria | Dear Kitty. Some blog

  28. Pingback: New British ‘centrist’ right-wing party against Labour | Dear Kitty. Some blog

  29. Pingback: British rich richer, workers poorer | Dear Kitty. Some blog

  30. Pingback: USA, France, Britain, democracies or oligarchies? | Dear Kitty. Some blog

  31. Pingback: Big pro-peace, anti-Trump demonstration, Brussels, 7 July | Dear Kitty. Some blog

  32. Pingback: ‘Europeans, spend more on wars’, Trump demands, 7 July protest | Dear Kitty. Some blog

  33. Pingback: Chantal Mouffe’s Left Populism, book review | Dear Kitty. Some blog

  34. Pingback: Economist magazine wants militarisation of British politics | Dear Kitty. Some blog

  35. Pingback: British rich getting even richer | Dear Kitty. Some blog

  36. Pingback: British students’ pro-climate protests, reports | Dear Kitty. Some blog

  37. Pingback: British anti-Boris Johnson demonstrators interviewed | Dear Kitty. Some blog

  38. Pingback: British anti-climate change strikers interviewed | Dear Kitty. Some blog

  39. Pingback: British Conservatives fight wars, not global warming | Dear Kitty. Some blog

  40. Pingback: Coronavirus update, Britain | Dear Kitty. Some blog

  41. Pingback: COVID-19 crisis in Boris Johnson’s Britain | Dear Kitty. Some blog

  42. Pingback: COVID-19 news update | Dear Kitty. Some blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.