CUE: Economic Inequality

Question 1

How can economic inequality cause issues?

Answer 1

• political and social unrest -riots, protests
• crime - drug use, violence
• health problems
• it can adversely affect life chances

Question 2

Why is inequality almost inevitable?

Answer 2

• unequal distribution of wealth
• generally higher in LICs - they lack resources to support the poorest citizens (and more arrive everyday)
• the UK is the most divided country in EU

Question 3

What did the London Fairness commission report in 2015?

Answer 3

for every £1 of wealth owned by the bottom 10% of London households, the top 10% own £172.

Question 4

How do incomes compare in London to any other region in the UK?

Answer 4

Incomes in London are more unequal than in any other region – 16% of the population in the poorest 10th Nationally.

Question 5

How many financial assets does the richest 10% of London have?

Answer 5

have 60% of all assets.

Question 6

How much more does the top 10th of employees earn than the bottom 10th?

Answer 6

4.5x more

Question 7

How do Kensington and Chelsea have the biggest imbalance?

Answer 7

the top ¼ earn at least £41 per hour which is 3.5X those of the lowest ¼. Average incomes are £130000 in Kensington and Chelsea compered to £35000 in Newham