Britain's harsh austerity measures have produced a sharp decline in real income and quality of life for the majority of the country; but the number of people earning £1M+ has doubled and is at an all-time high.
Official figures reveal that 18,000 people now earn at least £1m – the highest number recorded by HM Revenue & Customs. In 2010-11, 10,000 earned more than £1m, and in 1999-2000 there were only 4,000 earning such a salary.
There is also growth further down the salary brackets, with 5,000 more earning £500,000 to £1m in 2012-13 compared with 2010-11, an extra 31,000 earning £200,000 to £500,000, and 7,000 more earning £150,000 to £200,000.
The figures will increase concerns that the trends of the 1990s and early 2000s are continuing, with a growing disparity between the top-earning 1%, many of whom work in finance, and the rest of the workforce. In sectors such as manufacturing, construction and hospitality salaries have been squeezed in recent years. A recent report showed that if low to middle earnings were to rise by the 1.1% a year above inflation achieved in the past, average annual household incomes in this group would take until 2023 to reach £22,000 – the equivalent of where they stood in 2008.
Super-rich on rise as number of £1m-plus earners doubles [Daniel Boffey/The Observer]
NZ Prime Minister John Key is a racist blowhard who has smeared the opposition parties of “backing the rapists” for their support of NZ citizens with minor criminal convictions (not sexual assault, incidentally) being deported from Australia, where they have been imprisoned.
Last May, Jackie Burns, the deputy leader of the Labour Council in South Lanarkshire in Scotland, voted to close all public toilets as part of the Scottish government’s £22 million cost-cutting programme; early last Saturday morning, police issued him a £40 ticket for pissing in public. (via Reddit)
In a decision that environmental activists see as a hard-won victory, President Obama today announced he is rejecting the request from a Canadian company to build the Keystone XL oil pipeline. The news ends a seven-year review process that was a focal point in the debate over the Obama administration’s climate policies.
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