UK one of most unequal countries’, says Oxfam

oxfam

Britain is one of the countries having most unequal ratio in the money wealth distribution. Oxfam’s analysis has found that about 634,000 Britons were worth 20 times as much as the poorest 13 million people. It has urged Prime Minister of UK, Theresa May, to help reduce the gap between the “haves” and the “have-nots” in the nation.

The report is made after analyzing data from Credit Suisse and found that the richest 10% of the UK population own over half of the country’s total wealth, with the top 1% owning nearly a quarter (23%). The poorest 20% share just 0.8% of the UK’s wealth between them.

The report said many people in the UK felt locked out of politics and economic opportunity.

Rachael Orr, head of Oxfam’s UK Program said, “Inequality is a massive barrier to tackling poverty and has created an economy that clearly isn’t working for everyone. While executive pay soars, one in five people live below the poverty line and struggle to pay their bills and put food on the table.”

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