London: the most unequal city in the developed world

Published on Tax Justice Network’s Blog, May 03, 2010.

Linked on our blogs with Tax Justice Network (/their Homepage).

Recently we revealed the fact that land ownership in Britain is more unequal even than in Brazil. Now The Guardian expands on this theme, noting that the richest tenth of the London population has amassed 273 times the wealth owned by the bottom tenth:

We are getting wealth inequalities in London now as far as we know that have not been seen since the days of a slave-owning elite. The lesson is that it is not enough to just stop the disparity in incomes from getting bigger – you have to make it smaller to stop wealth inequality from getting worse … //   

and:

… The affluent have been allowed to lose touch with the everyday norms of society. The academic points out the cost of a flat in the City of London rose by 24% to almost £450,000 in 2009. Prices jumped at a time of recession. The rich really aren’t like us … they operate in a different world, said Dorling.

We will be revealing extraordinary things about London — in due course.

a Link in the here not copied part of this text … (full text).

Link: A Tax Justice Network Briefing paper, 78 pdf pages, September 2005.

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