Live revision! Join us for our free exam revision livestreams Watch now

In the News

Oxfam report on UK inequality

Graham Watson

13th September 2016

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.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

© 2002-2024 Tutor2u Limited. Company Reg no: 04489574. VAT reg no 816865400.