Reasons why income and wealth inequalities exist

Question 1

Low pay Example

Answer 1

Ages 16 to 17 receive a minimum of £4.81 an hour compared to ages 23+ who receive £9.50

Question 2

Low pay balance Example

Answer 2

15.1% (10,130,000) people in the UK suffer low pay

Question 3

Unemployment Example

Answer 3

Household where everyone is unemployed have a poverty rate above 50% compare to around 10% where people work full time

Question 4

Unemployment balance Example

Answer 4

Simulating the economy can lead to change in interest rates. This makes lending from banks more expensive 

Question 5

Poor Education Example

Answer 5

Due to Covid exam results, it became clear that the algorithm being used gave those in wealthier areas a head start

Question 6

Poor Education balance Example

Answer 6

44% of those with no qualifications are in poverty

Question 7

Gender Example

Answer 7

The gender pay gap between all employees is 15.5% in 2020

Question 8

Gender balance Example

Answer 8

The gender pay gap was 15.5% in 2020 down from 17.4% in 2019