Inequality soaring in Britain: report

Analysis by the Resolution Foundation think tank shows that the top earners in Britain now take home 10 percent of every pound earned in the country that is a three percent growth in 15 years while the bottom half of earners’ have seen their share fall from 19 percent to 18 percent over the period.

“The growing gap in incomes is pronounced when you look at the top 10th of households, and overwhelming when you consider the position of the top 1%. The rest of society hasn’t kept up. It’s the squeezed majority, not just the squeezed middle,” Mathew Whittaker, a senior economist at the thinktank, said.

This comes as dealing with the gap between the rich and poor has turned into a deteriorating political issue.

Opposition Labour leader Ed Miliband has called for a policy of “pre-distribution” to try to narrow the gap between the best and worst paid, while others from across the political spectrum, including the mayor of London, Boris Johnson, have praised the idea of employers promising to pay the Living Wage, which is currently £8.55 an hour in London, and £7.45 elsewhere.

The Resolution Foundation’s report, dubbed Squeezed Britain 2013, also highlights the misery of middle-earners as many of them have seen their incomes decline, due to high inflation and weak bargaining power in the workplace.

BGH/AMR/HE

Source Article from http://www.presstv.ir/detail/2013/02/11/288370/inequality-soaring-in-britain-report/

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