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UK spends more financing inequality in favour of rich than rest of Europe, report finds


pellinore

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The UK spends more than anywhere else in Europe subsidising the cost of structural inequality in favour of the rich, according to an analysis of 23 OECD countries.

Inequalities of income, wealth and power cost the UK £106.2bn a year compared with the average developed country in the Organisation for Economic Co-operation and Development (OECD), according to the Equality Trust’s cost of inequality report.

When compared with the top five most equal countries, however, inequality costs the UK £128.4bn a year in damage to the economy, communities and individuals.

“Inequality has made the UK more unhealthy, unhappy and unsafe than our more equal peers,” said Priya Sahni-Nicholas, the co-executive director of the trust. “It is also causing huge damage to our economy: we have shorter healthy working lives, poorer education systems, more crime and less happy societies.”

UK spends more financing inequality in favour of rich than rest of Europe, report finds | Inequality | The Guardian

Edited by pellinore
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2 hours ago, pellinore said:

 

When compared with the top five most equal countries, however, inequality costs the UK £128.4bn a year in damage to the economy, communities and individuals.

 

What would have to happen to claw back the £128 billion and spend on those suffering inequality?

Would everybody earning too much per year have to be switched onto a 350 £ per week salary to get all of the £128 billion.

Or could they be allowed to keep some of their extra wealth which would reduce the £128 billion to something much less. 

The inequality figure is dependent on how much people are allowed to earn before tax or a legal ceiling is imposed on earnings.

If this was implemented why would folks educate and work to improve their prospects, much of the idea of self betterment would go.

How would that effect an economy and its ability to fund an NHS for example.

Some might find the idea that earning fortunes is obscene but I doubt they have put the effort in or have the ability to be amongst those in the top 1 %

Just the usual left wing arm waving with the old idea that anyone on big money is probably corrupt or generally undeserving and pursuing them is the answer to all known ill's.

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10 hours ago, pellinore said:

The UK spends more than anywhere else in Europe subsidising the cost of structural inequality in favour of the rich, according to an analysis of 23 OECD countries.

Well isn't that the founding principle of the Tories?  What do people expect?

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14 hours ago, pellinore said:

The UK spends more than anywhere else in Europe subsidising the cost of structural inequality in favour of the rich, according to an analysis of 23 OECD countries.

Inequalities of income, wealth and power cost the UK £106.2bn a year compared with the average developed country in the Organisation for Economic Co-operation and Development (OECD), according to the Equality Trust’s cost of inequality report.

When compared with the top five most equal countries, however, inequality costs the UK £128.4bn a year in damage to the economy, communities and individuals.

“Inequality has made the UK more unhealthy, unhappy and unsafe than our more equal peers,” said Priya Sahni-Nicholas, the co-executive director of the trust. “It is also causing huge damage to our economy: we have shorter healthy working lives, poorer education systems, more crime and less happy societies.”

UK spends more financing inequality in favour of rich than rest of Europe, report finds | Inequality | The Guardian

Inequality hasn't made people unhappier, it's their lack of working smartly. But, put up with the finger pointing at everyone else and the Guardian moaning.

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