The top 1 percent of Britain's earners pocket 10p of every single pound the nation earns, while the poorest 50 percent take home only 18p between them, according to a report published this week into Britain's widening inequality gap.
The top 1 percent of earners have seen their pay rise by 3p, from a total of 7p in every pound earned in the UK in the mid-1990s, while the bottom 50 percent has seen its earnings fall by 1p over the same period, according to the report by the Resolution Foundation thinktank.
"If we take the longer view, we see the very wealthiest have continued to prosper, while many others have not," said Matthew Whittaker, senior economist at the Resolution Foundation.
"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 percent.
"The rest of society hasn't kept up. It's the squeezed majority, not just the squeezed middle." Full story...
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The top 1 percent of earners have seen their pay rise by 3p, from a total of 7p in every pound earned in the UK in the mid-1990s, while the bottom 50 percent has seen its earnings fall by 1p over the same period, according to the report by the Resolution Foundation thinktank.
"If we take the longer view, we see the very wealthiest have continued to prosper, while many others have not," said Matthew Whittaker, senior economist at the Resolution Foundation.
"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 percent.
"The rest of society hasn't kept up. It's the squeezed majority, not just the squeezed middle." Full story...
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