Saturday, 12 January 2019

Our poverty shame in the world’s fifth richest economy


Calling for an end to child poverty
at UNISON Conference 2012
If asked what the most important political issue is in the UK today most people, I am guessing, would say Brexit.

But not me. In my view the most pressing issue – and the one that as a country and a society that we should be most ashamed of – is the extent of poverty in this, the world’s fifth richest economy.
When the Tories introduced their austerity agenda in 2010 it was with the mantra – “We are all in this together.”

Right from the start those of us on the political left and the trade unions knew that would never be the case. We knew that those who would be most affected would be the poorest and most vulnerable in our society. We knew that the rich would be fine. And very soon it became apparent that not only would the rich easily weather the storm, they would amass to themselves even greater wealth. 

Inequality in the UK has grown massively since the financial crash. Research by the Equalities Trust shows that the 1,000 richest people in the UK now have total wealth of £724bn, which is an increase of £274bn in the past five years and an increase of £66bn in the past year alone. As the trade unions predicted, the rich have done very well indeed. The poor have paid the price of the bankers’ profligacy.