RE: Farmers protest tomorrow and the Guardian newspaper...18 Nov 2024 22:24
Lti
The majority of households in the UK have disposable incomes below the mean income (£32,300 as of 2022). This includes wages and cash benefits, and is after direct taxes like income tax and council tax, but not indirect taxes like VAT. The median income was rising by 2.2% on average for the last five years before the pandemic. However, in 2022, incomes for the poorest 14 million people fell by 7.5%, whilst incomes for the richest fifth saw a 7.8% increase.
In 2022, households in the bottom 20% of the population had on average an equivalised disposable income of £13,218, whilst the top 20% had £83,687. The richest fifth had an income more than 12 times the amount earned by the poorest fifth.
This still does not show the full extent of the difference between the richest and the rest of society. This is because the top 1% have incomes substantially higher than the rest of those in the top 10%. Since 1980, the share of income earned by the top 1% in the UK has generally been rising, peaking at 14.7% in 2007 before the financial crisis. This is almost double the corresponding figure for Belgium (7%) and still higher than Australia (9%), Sweden (8%) and Norway (8%), to name a few. For the whole world, the top 1% earn 20% of the total income.3 Depending on method calculation, the top 1%’s share of net household income rose to a new high in 2019 and continued to increase.
The RICHEST 50 FAMILIES IN THE UK OWN £466BILLION.
TAX THEM HARD!
https://equalitytrust.org.uk/scale-economic-inequality-uk/
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