Ten key inequality facts

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These were published by the TUC yesterday. I thought them worth repeating as they’re sobering:

  • The top 1 per cent own 21 per cent of the nation’s wealth – three times as much as the bottom half (who own 7 per cent). (HMRC)

  • The UK has twice as many poor children as Sweden, Finland and Denmark and half as many again as Germany and France. (Eurostat)

  • Of the 12 EU or OECD countries wealthier than the UK, 11 are more equal. (comparing GDP per head to Gini coefficient)

  • The average house price has gone up four times faster than the average wage over the last ten years. (DCLG)

  • The UK is the third most unequal country in Europe, and its citizens are the second most likely to be the victim of crime. France is the 10th most unequal and has the 14th lowest crime. (European Crime and Safety Study of 17 EU countries)

  • If trends continue by 2012 FTSE 100 chief executives will be earning more than £5 million, 150 times more than the average full time wage. (Income Data Services. ONS – TUC calculation)

  • Only six out of 18 OECD economies provide less training at work for those with no or low skills. (OECD)

  • A son of wealthy parents leaving school in the 1970s would, on average, earn 17.5 per cent more than a son of poor parents by his early thirties. For 1980s school leavers, the gap has risen to 25 per cent.

  • The richest fifth pay £18 tax on every £100 of disposable income, while the poorest fifth pay £30. (HMRC direct and indirect tax).

  • Boosting benefits sufficient to halve child poverty would cost each year less than one third the cost this year’s city bonuses. (JRF+ Guardian survey)