U.K. wealth gap splits top 1%, lower 50%

02/10/2013 | Guardian (London), The

One factor restraining the U.K. economy is a sharply growing wealth gap since the mid-1990s, particularly between the upper 1% of society in terms of income and the bottom half, according to a new report. "The growing gap in incomes is pronounced when you look at the top 10th of households and overwhelming when you consider the position of the top 1%. The rest of society hasn't kept up. It's the squeezed majority, not just the squeezed middle," said Matthew Whittaker, senior economist at the Resolution Foundation think tank, which issued the report.

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Guardian (London), The

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