John Simkin Posted December 9, 2004 Share Posted December 9, 2004 According to the Office for National Statistics the wealth of the super-rich had doubled since Tony Blair came to power. The top 1% of the UK wealth league owned assets worth £355bn in 1996. By 2002 it had increased to £797bn. On average, each individual in the top 1% was £737,000 better off under Blair. In 1911 the wealthiest 1% held 70% of the UK’s wealth. By 1936 this had fallen to 56%. The trend continued and by 1991 it had reached 17%. However, led by Thatcher and loyally followed by Major and Blair, the trend was reversed. Just before Blair gained power it reached 20%. Following Thatcherite policies Blair/Brown have now got it up to 23%. Meanwhile the wealth of the poorest 50% of the population shrank from 10% in 1986 (when Margaret Thatcher was in power) to 5% in 2002. The gap is the widest it has been since the 19th century. The gap in life expectancy has also widened. Thirty years ago men from poorer backgrounds died 5.5 years before their more prosperous contemporaries; now the gap is 7.5 years. The brave new world of Tony Blair. Link to comment Share on other sites More sharing options...
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