http://www.bbc.co.uk/news/business-13410095
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| Quote: The top 0.1% of UK earners, just 47,000 people, have seen their incomes rise much faster than the rest of the population, according to a report. Their incomes rose by 64% in the 11 years to 2007-08, according to the High Pay Commission, an enquiry set up by the left-wing Compass pressure group. The bottom 50% saw their incomes rise by just 7% in the same period. The report says the top earners, many of whom are company directors, could be receiving 10% all income by 2025. "This is the clearest evidence so far that the gap between pay of the general public and the corporate elite is widening rapidly and is out of control," said Deborah Hargreaves, chair of the High Pay Commission. The commission analysed income statistics gathered regularly by HM Revenue & Customs (HMRC). It found that between 1996-97 and 2007-08: the earnings of the top 0.1% had risen from an average of £328,000 to £538,600 the earnings of the bottom 50% had risen from £16,000 to £17,100. Extrapolating, the commission says that if those trends continue, then by 2019-20 the top 0.1% will have average incomes of £901,600. By contrast, the bottom 50% will see their incomes rise to just £18,700. | |
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