date: 12 July 2012
embargo: for immediate release
Responding to the Wealth and Assets Survey, published today (Thursday) by the Office for National Statistics, TUC General Secretary Brendan Barber said:
'Widening inequality, which started 30 years ago, has continued in the recession with the top 10 per cent now more than 500 times wealthier than the bottom 10 per cent.
'The crash should have brought an end to unjustified rewards at the top. Instead people on low and middle incomes are shouldering the burden of the recession they didn't cause through low wage increases, rising indirect taxes, and a higher risk of debt. Meanwhile the wealth of the very rich is growing at an ever-increasing rate, even as the economy sinks into double dip recession.
'Tackling this growing inequality through fairer taxes, stronger wage growth for those on middle and lower incomes and a crackdown on excessive rewards at the top is therefore vital for driving sustainable economic growth that benefits everyone.'
NOTES TO EDITORS:
- The wealth and assets survey is available at http://bit.ly/N7UdE7
- All TUC press releases can be found at www.tuc.org.uk
- Follow the TUC on Twitter: @tucnews
- Congress 2012 will be held at the Brighton Centre from Sunday 9 September to Wednesday 12 September. Free media passes can be obtained by visiting www.tuc.org.uk/mediacredentials and completing an online form. Applications must be in by noon on Wednesday 29 August. Any received later than that will be processed in Brighton and will cost £50. Please note that the Brighton Centre requires 60 days' notice for telephone line facilities. Details available on the link above.
Liz Chinchen T: 020 7467 1248 M: 07778 158175 E: email@example.com
Rob Holdsworth T: 020 7467 1372 M: 07717 531150 E: firstname.lastname@example.org
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