Income inequality scaling new highs in the UK

Is the mighty falling? Britain is reeling from the effect of Brexit, in so many ways. First business and now racism. One of the richest countries in the world, yet it is one of the most unequal developed countries too. A report by investment bank Credit Suisse has shown that the richest in the UK owns more than half of the country’s total wealth. Of this 1% owns 23% while the poorest 20% own just 0.8% of the country’s total wealth. PM Theresa May is sitting on fire with charity organization Oxfam, which released this report using data from Credit Suisse, urging her to act upon this kind of inequality, which people fear is making the nation many folds more racist than it is already known to be.

Another report recently by the Equality and Human Rights Commission (EHRC) showed that a “very worrying combination of this post-Brexit rise in hate crimes and long-term, systemic race inequality in the UK”. Troubled times in one of the greatest powers, will give the “developing” nations a leeway to gaining some of the superpowers that this nation used in the past. Karma, maybe?

[ Via : Theguardian ]

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