Wednesday, 1 July 2009

A dozen years of a Labour Government and the inequality gap is still widening

We all know that the Tories are for the well-off, viz Tory MPs' moats, duck houses, caviar-stuffed foie gras (okay, I made that last one up), but one thing we all knew (sic) was that Labour was for cutting the gap between the rich and the poor.
In fact the last time that happened was under the Wilson/Callaghan government of the 1970s.

However, thanks to a fellow councillor and statistics supplied by the Left Economics Advisory Panel:
* 13.2m people live in poverty, including 2.1m pensioners and 3.9m children.
* Over 20% are officially income poor, in 1979 it was 13%. However, 58% of British Asian and 40% of Black British people are income poor.
* The poorest 20% of the population pay nearly 40% of their total income in taxes, compared to 34.8% for the richest 20%.
* At 17% of average earnings, the UK state pension is the lowest in Europe (the EU average is 57%!)
* The gender pay gap is 17% for full-time work and 38% for part-time work.
* If unemployment benefit had kept pace with earnings, Job Seeker’s Allowance would be over £100/week today. Instead, it is £64.30 or £50.95 for under-25s.
* Executive pay has risen at 7 times the rate of the average worker.
* Tax havens cost the Exchequer at least £18bn annually.

A total and shambolic failure of Social Justice policies by Labour. Oh and what do the Tories recommend? Removing Inheritance Tax for millionaires.

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