Wealth gap 'at 40-year high'
The gap between the rich and poor in Britain has reached a 40-year high, according to a new report.An analysis of wealth and poverty trends across the country between 1968 and 2005 concludes that people living in affluent areas have become "disproportionately" wealthier than individuals living elsewhere.There is also evidence of "increasing polarisation" between the rich and poor, warns the report published by the Joseph Rowntree Foundation (JRF).Researchers conclude that while social equality increased during the 1970s, economic inequality rose in the 1980s and 1990s.Although fewer households are now living in extreme poverty, the number of households living below the so-called breadline is said to have risen over the past 15 years.The number of people living below the standard poverty line in 2001 reached 27 per cent, reveals the report.Based on an analysis of census and survey data, the study also concludes that there has been a "clustering" of poverty in urban areas.It suggests that while over half of households in some cities are now considered to be living below the breadline, wealthy households are settling on the outskirts of major cities such as London.Households considered to have "average" wealth have been effectively "disappearing" from the capital and the south east region, claims the report. It argues that those who have not moved away from such areas have subsequently become less well off.As such rich and poor households are becoming "geographically segregated" from the rest of society, says the study.Meanwhile a second report published by the JRF finds that although the public believe that the wealth gap in Britain is too large, there is little consensus over how the problem should be tackled."There is widespread acceptance that some occupations should be paid more than others, but the gap between high and low paid occupations is far greater than people think it should be," explained one of the study's authors, Michael Orton.Responding to the research, the Conservative party said that society was "flatlining" when it came to providing opportunities for the least well off in Britain."Not only is this a loss of opportunity for young people and a tragedy for families and individuals trapped at the bottom of the pile, it is also a massive loss of talent and creativity for our nation," said shadow home secretary David Davis.
Share this..
Related stories
Deflationary pressure hits the Eurozone
As deflation hits the Eurozone for the first time since its introduction in 2009 there are fears for the short to medium term. The inflation figure for May came in at 0% but the figure for June has come in at -0.1% which has started alarm bells ringing within the EU. A mixture of lower energy costs, lower food prices and lower demand in general has introduced a significant about of competition int...
Read MoreBenefit thieves taking UK government to the cleaners
It has been revealed over the last few days that police have been monitoring a gang claiming tax benefits for five fictitious children with benefits believed to be in the hundreds of thousands of pounds. This is not an isolated case as the UK authorities seem to be unearthing enormous fraud gangs on a regular basis, thieves who are effectively taking millions upon millions of pounds from the UK be...
Read MoreHas Barack Obama joined the Tory camp?
As we move towards the G20 summit, to be held in London from 2 April, it has been confirmed that Barack Obama has arranged a meeting with David Cameron on the Wednesday he flies into London. This is a severe slap in the face for Gordon Brown who has for some time been hanging on to the coattails of the US leader.
There is a suggestion, apparently coming from the US camp, that the US...
Royal Bank of Scotland insists bonuses will be paid
The Royal Bank of Scotland has today confirmed a loss of £1 billion at the halfway stage for 2009 and sought to clarify the situation regarding staff bonuses. Despite the fact that the bank made a loss in the first half there are many large "guaranteed" bonuses to be paid even though the bank is 70% owned by UK taxpayers and being propped up by the UK government in other ways.
If t...
UK government are the losers in EU shakeup
On the surface it appears that the UK government has been duped by its EU partners with French President Nicolas Sarkozy suggesting that Britain is the "big loser" in the recent EU shakeup. After apparently agreeing a deal with the French government, the UK appears to have walked in to a trap with Michael Barnier, the former French agriculture minister, catapulted in as commissioner for the intern...
Read More