In the decade since the start of the financial crisis those under the age of 35 have struggled while the top 1 per cent have recouped any losses, according to a new report that sheds fresh light on inequality across the UK.Households with an income of more than £275,000 have recovered from the slump and their share of national income has now returned to pre-crash levels.The country has gone far afield from a true free market system where wealth is shared and benefits all. Today, in the midst of massive deregulation and corporate greed, the country's financial institutions are operating only in their own self-interests.
But they’ve recovered rapidly since and the very richest households have now seen their share of the nation’s income return to very high pre-crisis levels,” he told “In contrast, for millions of young and lower income families the current slow-down comes on top of a tough decade for living standards, providing a bleak economic backdrop to the shock election result.
Over the last 15 years Britain has failed to deliver decent living standards growth for young families and those on low incomes,” Mr Corlett added.
Adam Corlett, senior economic analyst at the think tank, said successive governments had failed to deliver decent living standard growth for young families.
“The incomes of the top 1 per cent took a short, sharp hit following the financial crisis.
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The report also suggested it was a surprise that it had taken groups who were doing badly so long to vote against the status quo.
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