Inequality in the UK
Inequality in the UK
Snapshot
Income inequality in Britain is a serious economic issue that is costing the economic more than £39 billion a year. Research have shown that the 100 wealthiest people in the UK JAVE as much money as the poorest 18 million. UK was slow but has started noticing the full extent of the harm that could be caused by inequality. The great impact caused by inequality has brought about a need for a policy to be imposed for it. Jobs are created but it is not helping the situation as the poor are unqualified for these jobs as they are entry level jobs, therefore they are not motivated in improving their status. With a more equal society, people will have better health and increase in standard of living, hence leading to increase in productivity of the workforce. Therefore income inequality is a huge problem to be solved for sustainable economic growth.
Facts and statistics
The 100 wealthiest people in the UK have as much money as the poorest 18 billion
England's economic cost of mental illness is estimated to be 105.2 billion pounds( roughly 216 billion Singapore dollars) each year.
The richest 20 percent of people in UK have 60 percent of all the wealth while the poorest 20 percent have 0.6 percent of the total wealth.
Studies show that increasing household incomes would reduce the school achievement gap between rich and poor children, regardless of school or parenting quality
Life expectancy in rich areas is nearly a decade longer than in the poorest parts of the UK
Based on a UK average salary of £27,000, most people would have to work until the year 2172 to earn what a typical FTSE100 CEO makes in a year
How is this important
Excessive income inequality may have profound effects on Singapore's social cohesion and stability. Too much inequality leads to a perception that the system is unfair, and there will be widespread mistrust of the government. 8 out of 10 of the top richest Singaporean are Chinese with the remaining 2 being
Snapshot
Income inequality in Britain is a serious economic issue that is costing the economic more than £39 billion a year. Research have shown that the 100 wealthiest people in the UK JAVE as much money as the poorest 18 million. UK was slow but has started noticing the full extent of the harm that could be caused by inequality. The great impact caused by inequality has brought about a need for a policy to be imposed for it. Jobs are created but it is not helping the situation as the poor are unqualified for these jobs as they are entry level jobs, therefore they are not motivated in improving their status. With a more equal society, people will have better health and increase in standard of living, hence leading to increase in productivity of the workforce. Therefore income inequality is a huge problem to be solved for sustainable economic growth.
Facts and statistics
The 100 wealthiest people in the UK have as much money as the poorest 18 billion
England's economic cost of mental illness is estimated to be 105.2 billion pounds( roughly 216 billion Singapore dollars) each year.
The richest 20 percent of people in UK have 60 percent of all the wealth while the poorest 20 percent have 0.6 percent of the total wealth.
Studies show that increasing household incomes would reduce the school achievement gap between rich and poor children, regardless of school or parenting quality
Life expectancy in rich areas is nearly a decade longer than in the poorest parts of the UK
Based on a UK average salary of £27,000, most people would have to work until the year 2172 to earn what a typical FTSE100 CEO makes in a year
How is this important
Excessive income inequality may have profound effects on Singapore's social cohesion and stability. Too much inequality leads to a perception that the system is unfair, and there will be widespread mistrust of the government. 8 out of 10 of the top richest Singaporean are Chinese with the remaining 2 being