Tuesday, January 17, 2023

The Rise of the 1%

Britains richest 1% are now wealthier than 70% of the UK's population combined. 

The Hinduja family (net worth £28billion), Sir James Dyson (£23bn) and Sir Jim Ratcliffe (£10bn) are among the 685,000 richest people whose total worth exceeds the combined wealth of 48 million Britons. 

The richest 1% of Irish people have more than a quarter of the country’s wealth. The richest 1% in Ireland have gained 70 times more wealth than the bottom 50% in the last 10 years.

Chief executive of Oxfam Ireland Jim Clarken said: “This rising wealth at the top and rising poverty for the rest are two sides of the same coin, proof that our economic system is functioning exactly how the rich and powerful designed it to..."

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