Inequality hits families
Children and families are paying the price for an approach and policies which bolstered the super rich and left others in deep poverty.
“It is a stark paradox of contemporary capitalism that as societies get more prosperous, rising numbers are unable to afford the most basic of material and social needs. While the risk of relative child poverty has more or less doubled in 40 years, the limits to the lifestyle choices of the super-rich are constantly being raised.”
- Top 10% own 50% of wealth – ONS says probably more 50%
- 9th percentile 19.8%
- 8th percentile 12.4%
- 7th 8.2%
- 6th 5.2%
- 5th 3.1%
- 4th 1.6%
- The poorest own no wealth. Instead most have debt. 0%
“If the government gives you 50 quid and the rich 50 grand you will have more money and you will have less food, less energy, less housing, less healthcare because money is the asset we use to determine the distribution of real assets.”
Gary Stevenson, former trader, economist and equality activist
“Poverty levels soared during the 1980s because of the sharp rise in the share of national income accruing to the rich, a trend that left less for everyone else.”
“Statistically the rich get richer in a recession…whatever your political persuasion.”
Michael Ward, Harrods Managing Director, quoted
Financial Times: Harrods chief shrugs off recession fears because ‘rich get richer’(2023)
“The general rule, despite the changing fortunes of individual rich folk, is that money continues to rain upwards…If we really want to understand the poverty and problems of many people we would do well to look up.”
Professor Rowland Atkinson
The Conversation: How the super rich conquered London (2020)
In 2019 the Equality Trust reported that the wealthiest six UK billionaires owned a combined £39.4 billion, the same as the poorest 13 million people in the UK. Today – just five years later – the richest six billionaires are worth £156.7 billion. And those at the bottom are even poorer.
“…we see the scale of destitution in the UK rising fast. Nearly four million people experienced destitution in 2022 – an extraordinary 148% increase over just five years. This included one million children, nearly three times as many as in 2017.”
Joseph Rowntree Foundation
The State of Poverty (2024)
“If we do not find a way to tax rich people seriously the future of this economy is going to be a disaster. The govt is going into debt. Ordinary families are losing their homes. Ordinary families are going further into debt. The homes are going to the rich and the debt is (owed) to the rich. You pay more rent to the rich. You pay higher mortgages to the rich. As inequality gets bigger so cash flows from ordinary families to the rich get bigger. Which means inequality will get bigger still.”
Gary Stevenson, former trader, economist and equality activist
Children losers in this inequality
Providing support to enable families to raise their children should be a core function of the state, requiring everything from decent childcare, decent working conditions and pay, strong welfare, health and education systems. Having a child, and needing to care for that child, hits earning capabilities of families and increases their need for services and support.
Human rights frameworks are clear that this support for families is required. Instead, in England, vital support and services have been cut. Not only that but cuts such as the benefits cap and the two-child limit have caused more harm to children and families than anyone else. Children and families marginalised by factors such as disability or systemic racism are even more likely to be harmed.
“…around two in every ten adults are in poverty in the UK, with about three in every ten children being in poverty”
Joseph Rowntree Foundation
The State of Poverty 2024
“…3.8 million people experienced destitution in 2022, including around one million children. This is almost two-and-a-half times the number of people in 2017, and nearly triple the number of children.”
Joseph Rowntree Foundation
Destitution in the UK 2023
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Percentage of childless couples living in poverty (2020)
%
Half of those in poverty live in a family with a disabled member (2020)
%
Percentage of couples with children living in poverty (2020)
%
Percentage of those in poverty with Black head of household (2020)
%
Percentage of lone parent families living in poverty (2020)
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