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Adressing economic inequality at root. 5 goals for a fairer UK

Is it any surprise that four out of five British citizens want the government to act on inequality? The richest 1% of the UK population are now wealthier than the poorest 50% put together – a disparity that has been growing steadily since the 1970s, and on current trends is set to get even worse.

But this isn’t about the politics of envy; nor is it purely about what is morally right or wrong. We have convincing evidence that extreme economic inequality is contributing decisively to financial instability, wasted human capital, lower well-being and mental health, domination of politics by an elite few and low voter turn out.

We can no longer afford to ignore our inequality problem. It’s time for action.

The authors of this report call on the government to start with two key steps. The first is to set a tangible target to reduce economic inequality, as they have for child poverty. The second is to establish a high-level commission on economic inequality tasked with devising a broad policy agenda to tackle the drivers of inequality.

They then identify five high-level goals that must be achieved to address some of the root drivers of economic inequality. Each goal is accompanied with a set of policy area priorities.

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