Good times are back again – if you live off investment income

Posted on

As the FT notes this morning:

Investors received a record quarterly payout from UK companies in the three months to June as the gross dividends they paid rose to £25.3bn in the period.

The total was £1.4bn more than the previous record in the third quarter of last year, according to the quarterly dividend study by Capita Registrars. There were two quarters in 2012 in which total dividend payments surpassed £23bn, but otherwise the very large payments occurred before the credit crunch.

Wages have fallen by an average of 9% since the crash of 2008.

Taxes on ordinary people have also risen since 2008 - largely due to VAT rises and fiscal drag on middle incomes. Big business has seen its tax cut from 28% to 20% (soon) over the same period.

And now we're seeing business returns are rising significantly. There's no coincidence in that outcome. George is delivering growth just where he intended it.

And that's the message Labour has to push this week.

But I'm not optimistic. Saying that the small signs of growth in the UK economy are only for the benefit of the best off should not be hard when it is so obviously true. I just hope the message doesn't get lost in the telling.


Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:

There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.

You can subscribe to this blog's daily email here.

And if you would like to support this blog you can, here:

  • Richard Murphy

    Read more about me

  • Support This Site

    If you like what I do please support me on Ko-fi using credit or debit card or PayPal

  • Archives

  • Categories

  • Taxing wealth report 2024

  • Newsletter signup

    Get a daily email of my blog posts.

    Please wait...

    Thank you for sign up!

  • Podcast

  • Follow me

    LinkedIn

    LinkedIn

    Mastodon

    @RichardJMurphy

    BlueSky

    @richardjmurphy.bsky.social