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]
The official video for Nobody Speak, by DJ Shadow and Run The Jewels, was directed by Sam Pilling and stars Igor Tsyshkevych and Ian Bailey as very NSFW diplomats on a tear. The video depicts a meeting of leaders that quickly descends into chaos, a scene not unlike what is unfolding in governments around the […]
Paul LePage, the Republican governor of Maine, told reporters that people of color are the enemy in his state.
The Breitbart chief and Trump campaign CEO’s sexist bullying was evident in the early days of Biosphere 2 in Arizona, then a quasi “space colonization” and environmental research project. Stephen K. Bannon, who recently took a leave from running Breitbart.com to become Donald Trump’s chief campaign executive, once bullied women in the historic environmental research […]
These days, the vape market is saturated with low-quality products, making it nearly impossible to separate the gems from the duds. The Atmos Rx Dry Herb Vaporizer stands out from crowd for two reasons: its impressive battery life and durable construction. This high-end little gadget is compact enough to fit in your pocket, and packs a powerful punch, […]
If you’re like us, you occasionally get ambitious with your dinner and try to cook multiple sides plus a main dish. These efforts usually end as a cold meal plus a pile of dishes to wash. MasterPan Multi-Sectional Meal Skillet makes it super easy to make multiple dishes at once without the hassle. This heavy gauge bottom pan […]
The Lytro Illum is our all-time best-selling camera and here’s our best deal yet. Apply the code “Lytro10” to save an extra 10% off on this camera’s mind-blowing functionality in this exclusive one day only sale.