‘Something very wrong’

The appalling gap between the richest and everyone else on earth has been revealed ahead of the World Economic Forum in Davos.

Analysis from Oxfam found that 82 per cent of all money generated last year went to the wealthiest one per cent.

The poorest half of the world’s population gained nothing, according to the anti-poverty charity.

Oxfam blamed reduced workers’ rights, tax dodging, big businesses’ control over politicians and cost cutting for yawning inequality.

According to the report, 42 individuals now have as much wealth as the poorer half of all the world’s people.

Oxfam chief executive Mark Goldring said, “However you look at it, this is an unacceptable level of inequality.”

Despite releasing the figures ahead of the Davos forum, attended by the global elite, Goldring said he was not hopeful that the usual principled speeches on reducing inequality would translate into meaningful change.

He said, “Tough talk too often fades away at the first resistance.”

Poverty at home

Stark inequality is not only limited to developing nations usually associated with Oxfam. Last month, research from Joseph Rowntree Foundation found that nearly 400,000 more UK children were living in poverty than in 2012-13.

The Institute for Fiscal Studies estimates that the number of poverty stricken British kids will increase to an unprecedented 5.2m over the next five years.

Since the Tories took power there has also been a 134 per cent increase in the number of rough sleepers, with 9,000 people now living on the streets and 78,000 families living in temporary housing.

Last week, Unite Live reported on a campaign by a Tory council to “demonise” rough sleepers money by suggesting many had places to live and were receiving support – even though the same council had tried to block the opening of the region’s only emergency shelter and have been criticised for neglecting homeless people.

Commenting on rising of inequality both here and abroad, Unite assistant general secretary Steve Turner said, “There’s no wonder anger and unrest at the current system have been growing across the globe.

“There’s something very wrong with an economic system that allows just 42 individuals to amass 82 per cent of all the wealth generated in 2017, while the poorest 50 per cent on our plant gained nothing.

“Not only is the level of inequality staggeringly unfair, it threatens stability across the world and undermines any sense of justice and belief in political institutions.”

“Nor can our government pretend the rapaciousness of the ‘one per cent’ is a problem that only affects poorer countries. Poverty, including growing in-work poverty, unsustainable debt and homelessness is rising rapidly here in Britain as well, thanks to the efforts of the Tories to create an economy to serve the interests of the richest few.” “As in many other nations, the people of Britain are looking for change,” Turner added.

“Fortunately, a reinvigorated Labour Party is offering an alternative that does not look to divide communities or seek scapegoats – a danger that has been realised through the rise of far-right political movements in the US and here in Europe– but will instead build a fair economy and just society, that works for everyone. Restoring faith that politics can be a force for good.”