Thursday, October 08, 2020

UK's Income Inequality

The top 1% of earners in the UK equates to about 310,000 individuals

The top 0.1% of UK earners increased their share of income, including capital gains, by 50% between 1996-97 and 2017-18. 

The top 1% now receive about 17% of total income, up from just 6% at the beginning of the 1980s.

The average FTSE 100 chief executive is now paid about 126 times the average UK worker, compared with 58 times in 1999.

Basic salaries make up only about one-fifth of total chief executive earnings.

Incomes in the UK are the ninth most unequal of the 40 most developed countries

To provide every worker with a wage of £11 an hour, only 0.64% of earners – 2,000 people – would need to have their pay capped, at £251,760,  report from Autonomy says.

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