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The top fifth of people in UK have more than half the wealth

Steve Barnard

Sir

Entrepreneurs who provide jobs, training and drive the economy should welcome greater fairness (the Star Letters 29 September 2010). Research by the Equality Trust has found that lower differences in wages encourage people to come forward and drive the economy. Entrepreneurs would still reap the rewards of innovation, but within reason. In fact, Britain has long been a centre for innovation, but only in the last two decades has inequality risen so sharply. The top fifth now hold well over half our country’s wealth and evidence shows this is damaging to our society in terms of health, education, anti-social behaviour, social mobility and more.

The Green Party wants Britain to be fairer so everyone can benefit. Tax is one way of doing this but it is not the only way. For example, in Japan those at the top voluntarily limit their earnings. How governments target their resources is also important. The Coalition Government’s proposed cuts and tax changes will cause more inequality, not less. The Green Party believes that this will harm Britain’s prospects, including the
chances of entrepreneurs and business leaders to achieve success.

Sincerely

Steve Barnard
Sheffield Green Party

Topics: City Wide, Economy, Letters to the press, Steve Barnard

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