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

• http://www.poverty.org.uk/09/index.shtml

• www.guardian.co.uk

• wikipedia.org