The gap between the privileged elite and the poverty-stricken has never been wider.
A report by The Independent newspaper has revealed that 2.2 million millionaires now own almost one quarter of all wealth in the UK.
According to the annual global wealth report conducted by the Credit Suisse Research Institute. the wealthiest 5% of Brits own 44% of wealth.
Sally Copley from Oxfam said:
“The wealthiest one percent of the population – who own nearly a quarter of all the country’s wealth – continue to do well whilst so many people in Britain are just about managing to stay above the poverty line.
“Tomorrow’s Autumn Statement presents a real opportunity for the government to show how they are going to make the economy work for everyone and not just those at the very top.
“Globally, the richest one percent own more wealth than the rest of the world put together. This huge gap between rich and poor is undermining economies, destabilising societies and holding back the fight against poverty.”