It’s been described as the election that economics forgot. Outlandish proposals put forward by the country’s major parties on everything from tax evasion to inheritance tax seem, to be blunt, to be taking UK voters for fools. And well they might; after all, they can get away with it.
Just ask the Tories, who have successfully conned the country about economic growth for the past five years, without anyone seeming to notice.
The combination of a Prime Minister with a far better grasp of PR than macroeconomics, a woefully complicit media and a bewildered population that needs someone to blame has seen British people hoodwinked by made-up numbers since the Coalition took control.
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This article was originally published in SME Insider
Do you have $3650 (£2285) in savings or equity? Congratulations: you’re richer than 50% of people on the planet. If that doesn’t sound like a fortune, it’s because there isn’t all that much to go around. Not when half of the world’s wealth is owned by just 1% of people.
According to the latest global wealth report published by Credit Suisse, even though overall wealth has increased dramatically from $117 trillion in 2000 to $263 trillion today, this is mostly the property of a tiny minority, which owns 48.5% of the globe’s resources. The issue is particularly stark in the UK, which is the only country in the G7 to have seen inequality rise during this century. Continue reading →