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Rich are getting richer globally, new OECD survey reveals

Issue No. 2282

The gap between the rich and poor is soaring in rich countries—and it’s growing faster in Britain than anywhere else.

Research from the Organisation for Economic Cooperation and Development (OECD) examined inequality in 22 countries.

It found that globally the richest 10 percent are getting nine times more money than the poorest 10 percent.

Incomes for the richest 1 percent in Britain have doubled since the 1970s. The top 1 percent grabbed more than 14 percent of national income in 2005, compared to just over 7 percent in 1970.

The OECD added that this growing inequality was not inevitable. It points out that many government policies have helped the rich while punishing the poorest in society.

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Tue 6 Dec 2011, 17:55 GMT
Issue No. 2282
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