The world's richest 1 per cent may soon own more than the 99 per cent. Photo: Getty
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The richest 1 per cent is set to own more than the rest of the world: we need action on inequality

A rich man's world.

The media has dubbed today "Blue Monday" – supposedly the most depressing day of the year. Pseudoscience, probably, but it’s hard not to feel gloomy with a report out today from Oxfam showing that the world’s richest 1 per cent have increased their combined share of global wealth to almost half, and if current trends continue, next year will see them overtake the other 99 per cent. Equally striking is the finding that the combined wealth of 3.5bn people – half the world’s population – is matched by the wealth accumulated to just 80 individuals, who enjoy beneficial political influence by virtue of their assets, according to Oxfam. 

This extreme concentration of wealth is not an abstract global problem, but one that’s visible on our own doorstep. New Equality Trust research shows that the richest 100 families in Britain in 2008 have since seen their combined wealth increase by at least £15bn. The wealth of the top 100 increased by a staggering rate of £1,268 per second last year, to equal that of nearly a third of UK households put together. And among the richest of the rich in this country, ten people saw their incomes rise by £3.1bn to an eye-watering £96.6bn.

Contrast this with a JRF report also out today, showing that more than 8m parents and children in the UK are living on family incomes which are inadequate for supporting a socially acceptable standard of living, an increase of over a third since 2008/9. Within this group, families headed by lone parents and those with a single breadwinner have faced significant increases in their likelihood of having to try to make ends meet on an insufficient income. 

Given what we know about the negative health and social effects of pronounced economic disparity, these refreshed figures on accumulated wealth and increasingly inadequate incomes are great reason for concern. The three pieces of research come at the beginning of the week when politicians, civil society and business leaders are due to meet in Davos at the World Economic Forum to discuss key issues of global concern. Last year, inequality was a dominant theme, and experts have placed deepening income inequality in the top spot for 2015 as well. However, talking about inequality isn’t really getting us anywhere and concerted action globally and at home is urgently needed if we are to stem the upward flows of wealth and power.

Lucy Shaddock is Policy and Campaigns Officer at The Equality Trust

Newsgroup Newspapers Ltd/Published with permission
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Everything that is wonderful about The Sun’s HMS Global Britain Brexit boat

And all who sail in her.

Just when you’d suffered a storm called Doris, spotted a sad Ukip man striding around the Potteries in top-to-toe tweed, watched 60 hours of drama about the Queen being a Queen and thought Britain couldn’t get any more Brexity, The Sun on Sunday has launched a boat called HMS Global Britain.


Photo: Newsgroup Newspapers Ltd/Photos published with permission from The Sun

Taking its name from one of Theresa May’s more optimistic characterisations of the UK post-Europe (it’s better than “Red, white and blue Brexit”, your mole grants), this poor abused vessel is being used by the weekend tabloid to host a gaggle of Brexiteers captained by Michael Gove – and a six-foot placard bearing the terms of Article 50.

Destination? Bloody Brussels, of course!

“Cheering MPs boarded HMS Global Britain at Westminster before waving off our message on a 200-mile voyage to the heart of the EU,” explains the paper. “Our crew started the journey at Westminster Pier to drive home the clear message: ‘It’s full steam ahead for Brexit.’”

Your mole finds this a wonderful spectacle. Here are the best bits:

Captain Michael Gove’s rise to power

The pinnacle of success in Brexit Britain is to go from being a potential Prime Minister to breaking a bottle of champagne against the side of a boat with a fake name for a publicity stunt about the policy you would have been enacting if you’d made it to Downing Street. Forget the experts! This is taking back control!


 

“God bless her, and all who sail in her,” he barks, smashing the bottle as a nation shudders.

The fake name

Though apparently photoshopped out of some of the stills, HMS Global Britain’s real name is clear in The Sun’s footage of the launch. It is actually called The Edwardian, its name painted proudly in neat, white lettering on its hull. Sullied by the plasticky motorway pub sign reading “HMS Global Britain” hanging limply from its deck railings. Poor The Edwardian. Living in London and working a job that involves a lot of travel, it probably voted Remain. It probably joined the Lib Dems following the Article 50 vote. It doesn’t want this shit.

The poses

All the poses in this picture are excellent. Tory MP Julian Brazier’s dead-eyed wave, the Demon Headmaster on his holidays. Former education minister Tim Loughton wearing an admiral’s hat and toting a telescope, like he dreamed of as a little boy. Tory MP Andrea Jenkyns’ Tim Henman fist of regret. Labour MP Kate Hoey’s cheeky grin belied by her desperately grasping, steadying hand. Former Culture Secretary John Whittingdale’s jolly black power salute. And failed Prime Ministerial candidate Michael Gove – a child needing a wee who has proudly found the perfect receptacle.

The metaphor

In a way, this is the perfect representation of Brexit. Ramshackle, contrived authenticity, unclear purpose, and universally white. But your mole isn’t sure this was the message intended by its sailors… the idea of a Global Britain may well be sunk.

I'm a mole, innit.