In the 1980s, CEOs in Britain earned 20 times average worker salaries. Today, it is 120 times. This explosion in income inequality is not an accident – it is the direct result of policies pushed by our political and economic elites.
New research released this month shows the growing chasm of income inequality that is tearing Britain's social fabric apart. It can't be fixed by half measures – we need a fundamentally new economic model.
From the bungling of Covid-19 to economic policies written for a tiny elite and a cosy relationship with a supine press, Britain's political landscape is more of a wasteland when viewed from neighbouring countries.
Yesterday's announcements saw Rishi Sunak cut £10 billion worth of planned spending from the UK economy. It might be a new form of austerity, but it is austerity nonetheless – and none of it is necessary.
By proposing increases in defence spending alongside a pay freeze for workers, the Tories have exposed the lie that governments can't invest – and revealed their own priorities: war before well-being.
The most deprived parts of England – and those which suffered most from a decade of austerity – are at the frontlines of lockdown. The Tories' refusal to support them is a disgrace.
This week, Boris Johnson said it was time for the state to "stand back and let the private sector get on with it." But that is exactly what Britain has done for 40 years – and it has led to disaster.