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Mate, can you spare tuppence?
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  • November 11, 2014
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All of our London friends, more than a dozen people, share their flats and homes with others. While it is true they are generous people who enjoy living in community with others, generally that’s not the number one reason they have housemates and flatmates.

Why all the cohabiting? Costs, mate, costs. London is more expensive than ever, and the gap between rich and poor is widening rapidly.

The Guardian recently reported:

UK only G7 country with wider inequality than at turn of century

Britain is the only country in the G7 group of leading economies where inequality has increased this century, according to a report published on Tuesday.

The amount of the country’s wealth controlled by the richest 10% increased to 54.1% this year, up from 51.5% in 2000, according to the annual Credit Suisse global wealth report.

The increase in inequality has coincided with a boom in the number of rich and super-rich people in Britain. There are now 44 dollar billionaires in Britain, compared with eight at the start of the century, while the number of people whose net worth is at least $50m (£31m) almost quadrupled to 4,660.

As the rich have got richer, low and middle-income households have been squeezed by falling real incomes caused by years of rising household bills and lack of wage increases.

Oxfam’s head of inequality, Emma Seery, said: “In the UK, successive governments have failed to get to grips with rising inequality. This report shows that those least able to afford it have paid the price of the financial crisis whilst more wealth has flooded into the coffers of the very richest.”

Please finish the story on the Guardian’s site.

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