Friday, 16 May 2014
Who wants to be a millionaire?
According to the Office of National Statistics (ONS) there are now in the UK many more millionaires. Some 20% of the population that have degrees have a net worth of more than £1.million. Apparently the best way to achieve this goal is first of all get a degree, secondly be middle age somewhere between 55-64. Thirdly be married and finally be self employed. The gap is increasing between - the haves and have nots! The richest 10% of the British population own 44% of the total household wealth. This is principally made up from: private pension provision, property and physical wealth - the contents of these properties - pictures, jewelry, cars, books etc. The geographical gap is also getting wider with the south and London in particular marching away from the rest. If you live anywhere in the north of England life is far tougher by all conventional social, health and economic measurements. This grossly uneven distribution of wealth is far from democratic and is casting a long shadow over the coalition government. The gap has increased dramatically in the past four years by some 50% despite the financial crisis. Ed Miliband is therefore right when he says that the 'squeezed middle' are finding things much harder. Can he make this rhetoric stick with sufficient conviction for the voters to give him a mandate in May 2015? His current showing in the opinion polls says he is loosing this argument.
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