The Conservatives are in office for another five years with a long term plan to deliver a prosperous and more balanced economy. But with the mounting burden of household debt set to grow even further, we could be in for a bumpy ride.
The richest 1,000 people have more wealth (£547 billion) than the poorest 40% of households (£452 billion). Last year they saw their wealth increase by a staggering £28.151 billion, the equivalent of £77 million a day, or £893 a second, according to the annual Wealth Tracker report by The Equality Trust.
There is more money in the world than at any other point in human history, so why doesn’t it reach the places that need it most?, asks Fran Boait, Positive Money’s Executive Director in the article published in Open Democracy, 14th April 2015
The Department for Communities and Local Government recently released its Housing Survey for England*. The report ultimately confirms what Positive Money has been putting forward for many years, that the housing bubble continues to be a massive driver of inequality and that more and more people are being ‘priced out’ of the housing market. Certain statistics show that this is not only due to a shortage of housing, implying it is also due to the banking sector’s ability to create money out of thin air.