Thursday, May 04, 2017

Tories mean inequality

Brexit and a Tory government means the UK is now facing the biggest rise in inequality since Thatcher:

Pressure on the government to help struggling Britons has intensified after a leading thinktank warned that falling living standards for the poor threatened the biggest rise in inequality since Margaret Thatcher was prime minister.

The Resolution Foundation said Theresa May would need to make good on her pledge to support “just about managing” households as it released a report showing that rising inflation and an end to recent strong jobs growth would hit the least well-off hardest.

Its warnings chime with other forecasts for a squeeze on family budgets on the back of sluggish wage growth, welfare cuts, rising global oil prices and the pound’s sharp fall since the Brexit vote. The drop in sterling has made imports more expensive and there are already signs that is being passed on to consumers, with inflation hitting its highest level for more than two years in December.

The Resolution Foundation’s study found that the current parliament would be the worst for living standards for the poorest half of households since comparable records began in the mid-1960s and the worst since the early years of Thatcher’s 1979-90 premiership for inequality.

The graphs in that article are truly horrifying. The rich have made out like bandits in the Tory years, while others have been driven to the wall by austerity. But with an unfair electoral system, there really seems to be nothing peaceful UKanians can do about it other than leave.