United Kingdom - Economy is paying too little for work and too much for sitting on wealth - December 31, 2015

Figures published in December 2015 by the Office for National Statistics on UK household wealth paint a worrying picture of growing wealth inequality, according to the TUC. In cash terms for 2012-14 the top 10% owned £5.0 trillion of household wealth, which is 44.8% of total UK household wealth (£11.1 trillion). This is up from 43.6% in 2010-12. The bottom half of the wealth distribution has seen its share decline. The least wealthy 50% had only 8.7% of total UK household wealth in 2012-14, which is down from 9.6% in 2010-12. The TUC says that the growing share of wealth for those at the top reflects an economy that is too dependent on growth in the value of property and financial investments.

English: https://www.tuc.org.uk/economic-issues/britain-needs-pay-rise …  

For more information, please contact the editor Jan Cremers, Amsterdam Institute for Advanced Labour Studies (AIAS) cbn-aias@uva.nl or the communications officer at the ETUI, Mariya Nikolova mnikolova@etui.org. For previous issues of the Collective bargaining newsletter please visit http://www.etui.org/E-Newsletters/Collective-bargaining-newsletter. You may find further information on the ETUI at www.etui.org, and on the AIAS at www.uva-aias.net.


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