Oxfam report on UK inequality

An Oxfam report released today highlights the fact that the UK is one of the most unequal countries in the developed world.

And guess what, it argued - somewhat unnecessarily in my view that this contributed to the Brexit vote. Yes, the poorest areas in society might have voted Leave but correlation and causation are different matters.

Credit Suisse data shows that the richest 1% own 23% of the country's wealth whereas the poorest 20% only own 0.8%. The report also sets out some ways of tackling this but the extent to which they'll be effective, and their opportunity cost will need evaluating, not least because those on the political right believe there's a trade-off between efficiency and equity.