Thread by @bopinion

Inequality in the U.K. concerns politicians from the left and the right.

That hasn’t stopped it from getting worse bloom.bg/2Trcy7e

Inequality in disposable income rose to 32.5% in 2018.

⬇️ The poorest fifth of the population saw its average income fall by 1.6%
⏫ The richest fifth enjoyed a 4.7% gain bloom.bg/2Trcy7e

The good news: Income inequality in the U.K. is still slightly lower than it was in 2007 before the financial crisis.

In the absence of cash benefits, the level of inequality would have been 14.2% higher in 2014-15 bloom.bg/2Trcy7e

Still, Britain has a problem:

📈 The Gini coefficient, a measure of inequality, stood at 25% in 1978. It rose steeply under Margaret Thatcher and now hovers around 32%.
💷 The top 1% earns around 7% of total disposable household income bloom.bg/2Trcy7e

There’s another, much more troubling, form of inequality bugging Britain: The one between generations.

The baby boomers enjoyed steep improvements in disposable incomes relative to their own parents. Today’s millennials cannot say the same bloom.bg/2Trcy7e

In 2001, those aged between 25 and 34 were consuming the same as 55-64 year-olds.

Now they are consuming 15% less bloom.bg/2Trcy7e

The Conservatives have done little to address it. Chancellor Philip Hammond promised the end of austerity by:

- Injecting money into the NHS
- Raising thresholds for personal allowance & higher rate taxpayers

There was little in the budget for the young bloom.bg/2Trcy7e

There's hope that a couple of things could help the younger generations:

💼Booming employment levels
🏘A cooling housing market

But with Brexit taking its toll, and homes still out of reach for first-time buyers, the government shouldn't be complacent bloom.bg/2Trcy7e