Forum Topic

Unequal Britain. Unlikely to improve?

"Britain has become significantly more unequal since 1979, with income and wealth increasingly concentrated at the top, while the share for lower-income groups has fallen. The Gini coefficient (a measure of inequality) rose sharply in the 1980s, peaking around 2009-2010, and has remained at high levels since. Recent data shows the richest 20% of the population earning significantly more than the poorest 20%, and the top 1% holding substantial wealth compared to the rest of the population. Evidence of Increasing InequalityIncome Share: In 1979, the top 10% of the population received 21% of all income; by 2010, this had risen to 31%. In 2022, the top 20% earned 36% of total income, while the bottom 20% received only 9%. Wealth Distribution: Oxfam reported in 2023 that the richest 1% of people in the UK held more wealth than 70% of the rest of the population combined. The reversal of a long-term trend: The post-war era saw a reduction in inequality, with the share of income going to the top 10% falling significantly by 1979. This trend reversed dramatically after 1979, leading to a steep rise in inequality through the 1980s and early 1990s.Britain has higher income inequality than most other European countries, though not as high as the United States."

David Ainsworth ● 32d2 Comments

Mr Ainsworth'"Britain has become significantly more unequal since 1979, with income and wealth increasingly concentrated at the top, while the share for lower-income groups has fallen'.I assume, but may be wrong, that as a West Putney resident you are not short of a few bob that probably resulted from a high paying job or profession.Do you think that personally you should have paid a higher rate of income tax and that your wealth should be taxed more or even part of it taken by the Government as a sort of windfall tax ?

John Hawkes ● 32d

The top 1% earned 13% of all income but paid 28% of all income tax, suggesting that they are paying their fair share and more. Wealth taxes and a higher rate tax band, proposed by the Labour left, will only induce many of these individuals to leave the country, which will reduce the tax take.

Steven Rose ● 32d