Income inequality is getting wider. If the stats count what counts

The Tories say the income gap is not growing and cite data that ignores key contributors to the wealth of the top 1% such as capital gains and inheritanceForget all that guff about a growing gap between rich and poor, says Philip Hammond. Pay no heed to Jeremy Corbyn when he talks of how he will deliver for the many not the few, Theresa May says. The chancellor and the prime minister might not always see eye to eye, but on this at least they are in unison: income inequality is at its lowest since the mid-1980s.May regularly makes this point when she is fending off attacks on inequality from Corbyn at prime minister’s questions. Buried away in the depths of the budget speech, Hammond said exactly the same. It’s not hard to see why. The Conservatives are uncomfortable with the idea that they are the party of the 1%, so evidence to the contrary is mighty useful. Continue reading…
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