Is inequality on the rise in the

Posted In : March 01,2019

A new report by the Office for National Statistics suggests inequality is on the rise in the UK.
The report says the gap between the richest and the poorest has widened – and the benefits freeze is to blame.
The richest fifth of the population saw average income increase by 4.7 per cent for the financial year ending in 2018 while it contracted by 1.6 per cent for the poorest.
The ONS says that the rise in earnings is down to an increase in employment but the loss of value for benefits saw a falling income for the poorest.
This means that the freeze on household benefits means that inflation has devalued how much each family receives in real terms.
Brought in back in 2015 by then-chancellor of the exchequer George Osborne, the freeze is due to last until 2020.