Poverty and inequality are at record levels according to a new report. The redistribution of wealth from poor to rich overseen by former prime minister Margaret Thatcher, and continued under Labour, will be accelerated by the huge public spending cuts proposed by the Conservative-Liberal Democrat coalition — unless they are stopped.
The Institute of Fiscal Studies’ annual Poverty and Inequality in the UK report released in May makes for bleak reading. Incomes for most households had stagnated for the last seven years under Labour.