The number of children living in poverty is set to soar to 5.2 million in the next five years as the richest members of our society get richer.
New research from the Institute for Fiscal Studies has predicted an increase of more than a million in the number of children living in poverty, more than reversing all the progress made over the past 20 years.
The shocking numbers come as new OECD figures reveal the gulf between the rich and poor in the UK is growing at an unprecedented level.
Compared to other European and G7 nations the average GDP per person in Britain far outstrips that of the poorest segment, as demonstrated in the graph below:
Tory Britain: the rich get richer and the rest get poorer. pic.twitter.com/EY1Wlo5U9t
— John McDonnell MP (@johnmcdonnellMP) October 30, 2017
Meanwhile the IFS expects 37 per cent of children in the UK to be living in relative poverty by 2021-2022.
The thinktank said this was the highest percentage since modern records began in 1961.
— Owen Smith (@OwenSmith_MP) November 2, 2017
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 .