The level of inequality in Britain far outstretches that of our European neighbours or other G7 countries, a new graph has revealed.
According to OECD figures published in The Economist the richest people in the UK are leaps and bounds ahead of the poorest groups in terms of GDP per person.
The figures were revealed as Jeremy Corbyn piled pressure on Theresa May in today’s PMQs for allowing the UK to become a tax haven for the rich.
Tory Britain: the rich get richer and the rest get poorer. pic.twitter.com/EY1Wlo5U9t
— John McDonnell MP (@johnmcdonnellMP) October 30, 2017
The disproportionate amount of income earned by the top one per cent in Britain is quite terrifying when compared to that of other nations.
But it becomes even more worrying when you look segment that group even further.
Although the top one per cent have an average income of £253,927, according to the latest figures, the top 0.1 per cent have an average income of £919,882.
RELATED
IMF vindicates Corbyn: Higher income tax for rich reduces inequality without hitting economic growth
Since you are here
Since you are here, we wanted to ask for your help.
Journalism in Britain is under threat. The government is becoming increasingly authoritarian and our media is run by a handful of billionaires, most of whom reside overseas and all of them have strong political allegiances and financial motivations.
Our mission is to hold the powerful to account. It is vital that free media is allowed to exist to expose hypocrisy, corruption, wrongdoing and abuse of power. But we can't do it without you.
If you can afford to contribute a small donation to the site it will help us to continue our work in the best interests of the public. We only ask you to donate what you can afford, with an option to cancel your subscription at any point.
To donate or subscribe to The London Economic, click here.
The TLE shop is also now open, with all profits going to supporting our work.
The shop can be found here.
You can also SUBSCRIBE TO OUR NEWSLETTER .
