Carrying on from earlier today, it appears that prominent politicians are set to debate growing wealth inequality in Britain. From the Guardian:
A fierce debate within the government on how to tackle entrenched
wealth inequality – possibly through a high pay commission or a tax on assets – is to be ignited by a report ordered by Harriet Harman, the Labour deputy leader and the minister responsible for equalities.
report is due to be published in January. Early drafts seen by
ministers say wealth inequality has deepened, with the rungs on the
ladder having grown further apart, reducing social mobility. It is also
expected to underline the degree to which access to pensions and
housing play a crucial role in entrenching inequalities in wealth and
The majority of people my age that I know in the U.K are simply not thinking about owning a house or putting money away for later – the cost of living is just too high, and property prices are way beyond their means. Some are lucky enough to have wealthy parents, but most are not, so they will continue to live hand to mouth and pay check to pay check. It’s unlikely that major new taxes will be introduced, but at least it’s up for discussion, unlike in America where any mention of wealth inequality sparks a protest from thousands of ‘tea baggers’ livid at the thought any of their money could be used to help poor kids go to school.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.