Today, The Equality Trust releases Billionaire Britain 2022: Inequality from the top down. This briefing demonstrates how, over the last four decades, changes to the UK economy have consistently funnelled wealth upwards to the very wealthy, to the detriment of the rest of us – starkly demonstrated this Christmas as we face record inflation, deep real-terms pay cuts and an impending recession with scant support from government. High and entrenched levels of inequality lead to higher levels of social issues including violent crime, mental illness and lower levels of trust and happiness for all, meaning that everyone suffers from living in such a divided society.
Using inflation-adjusted wealth data from archive copies of the Sunday Times Rich List, this briefing presents a longitudinal analysis of the explosion of billionaire wealth in the UK since 1990, examines the economic drivers of our billionaire society, and outlines our recommendations to dismantle the structures that enable this obscene accrual of wealth. Read more.
