By Ruaridh and James. Definition Economic inequalities comprises all differences in the distribution of economic assets and income.

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Presentation transcript:

By Ruaridh and James

Definition Economic inequalities comprises all differences in the distribution of economic assets and income

Examples The richest tenth of the population have seen much bigger proportional rises in their incomes than any other group. The poorest tenth of the population now have, between them, 1.3% of the country's total income and the second poorest tenth have 4%. In contrast, the richest tenth have 30% and the second richest tenth have 15%. The income of the richest tenth is more than the income of all those on below-average incomes (i.e. the bottom five tenths) combined. London has the greatest divide as it has by far the highest proportion of people on a low income but also has the highest proportion of people on a high income.

Changes in inequality can be related to the overall trends in the economy of the country. Average household wealth of the top 10% of the population stands at £853,000. The lowest 10% is £8,800. The UK is also one of the most expensive places to live as the government taxes 39% on the average GDP

Social mobility (movement between classes) is essential for the economy, the government should take action to ensure everyone has a fair chance. Harriot Harmen (the acting leader of the labour party)

Sources wikipedia.org