UK Wealth Gap Name of the Student Name of the University Course

UK Wealth Gap
Name of the Student
Name of the University
Course ID

Gap between Rich and Poor
• Unequal distribution of asset is called
wealth inequality.
• Rank of UK is 5 in inequality.
• The trend in real income is increasing
from 1961 to 2011.
• 10% population has 44% of the UK’s
wealth.
• In 1970s, lower inequality was observed
compared to recent recession.
• Income of rich has fallen more than the
poor's income in the recent recession.
• Inequality was fallen but not as much as
in1970s.
Trend in Real Income Levels Since 1961
(The Income Distribution in the UK: A Picture of Advantage and Disadvantage 2019)

Inequality of Opportunities
• Inequality due to non-controllable state or luck is called inequality of opportunity.
• Unequal opportunity has an impact on overall inequality.
• It is correlated with growth.
• Negative correlation between unequal opportunity and growth.
• Reduction in inequality of opportunity can improve economic growth.
• Example, spending on education is effective to increase the opportunity.