Britain’s Wealth Gap; ‘Five richest families worth more than poorest 20%’

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Today Larry Elliott economic editor for the guardian has reported a degree of growing inequality among the population in Britain that has been observed by UK leading charity Oxfam.  Oxfam has reported that ‘five richest family in Britain own more wealth than the poorest 20% of the population’. Oxfam have insisted that the chancellor George Osborne to use Wednesday’s budget to highlight ‘tax avoidance and introduce a living wage’ as some super-rich headed by the Duke of Westminster have more money and assets than 12.6 million Britons together. Clearly those at the top with money have benefited in wealth tax as they have revealed ‘income gains and rising asset prices’.

A report from Oxfam ‘a Tale of Two Britain’s’ have found that 20% of the poorest people in the UK have a total wealth of £28.1bn, an average of £2,230 each. In contrast to the top richest five;  the family of the Duke of Westminster, David and Simon Reuben, the Hinduja brothers, the Cadogan family, and Sports Direct retail boss Mike Ashley between them have assets, properties and savings worth £28.2bn. This is very worrying, clearly the gap between the poor and rich are growing as Ben Phillip the director of campaigns and policy for Oxfam has said that: “Britain is becoming a deeply divided nation, with a wealthy elite who are seeing their incomes spiral up, while millions of families are struggling to make ends meet”.

It is utterly disgusting to see the situation we live in today where many people struggle with their day to day lives, and yet again we have the elites that earn more than you could ever wish for. Britain a country with opportunity equality has shown the growing gaps between the wealthy and poor as it is not only evident in third world countries but in are very own door step.  People like me and you are the great losers of this situation and the growing elite will continue to grow as winner unfortunately.

Please read the article for greater insight!!

http://www.theguardian.com/business/2014/mar/17/oxfam-report-scale-britain-growing-financial-inequality

Munira Abukar 

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