Socialist Worker

Number of millionaires has doubled under New Labour

Issue No. 1742

Number of millionaires has doubled under New Labour

THINGS have certainly got better for some under New Labour. The number of millionaires in Britain has more than doubled in the last five years.

In 1995 there were 33,063 millionaires. By last year that had soared to 73,990, according to a survey by the Datamonitor market research group. These are the people New Labour refuses to tax to pay for public services. And it is from this select group that New Labour hopes to pocket even more six figure handouts-in return for even more favours after the election of course. But while a tiny minority of the rich get richer, the poor get poorer in Blair's Britain.

A report by Bristol, York, Loughborough and Herriot-Watt universities found that 26 percent of people in Britain are now living in poverty, defined as having low income and being unable to afford basic household necessities. That figure has grown from 14 percent living in such poverty back in 1983. The way to tackle poverty is simple-tax the rich to fund services and provide jobs.

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Sat 7 Apr 2001, 00:00 BST
Issue No. 1742
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