Wealth gap has riden under Labour
December 7, 2004 7:00 PM
A report from the Office for National Statistics has shown the wealth gap between the richest and poorest has increased since Labour came to power in 1997. The gap between disposable income in the richest 10% of households and the poorest 10% of households has grown in absolute terms.
Nicola Davies said "It is an absolute disgrace that the wealth gap has widened under Labour. You would expect this from a Conservative Government but not from a Labour Government that claims to help the poorest in society."
In 1997 the richest 10% of households had £565 or more of disposable income per week and the poorest 10% had £139 or less - a gap of £426. By 2003 the richest 10% had £658 or more of disposable income per week compared to the poorest 10% who had £164 or less per week - a gap of £194.
The report also shows that the richest 1% now own 23% of the nation's overall wealth and the richest 50% own 94% of the wealth.
What would you like to do next?
-
Subscribe for updates
Follow the party's activity on...
- Twitter:
- Liberal Democrats
- Facebook:
- Liberal Democrats
- YouTube:
- Liberal Democrats