The top 1,000 own a third of Britain's wealth and the gap between rich and poor continues to widen
Remember when George Osborne said "Austerity, we're all in this together." Well, it turns out that we aren't really. The Sunday Times Rich List was released yesterday and it was revealed that Britain's most fortunate have never been richer, at a time when Britain's poorest are now £1,600 worse off than they were in 2010.
The combined wealth of Britain's top 1,000 stands at a record £519billion – that's double what it was five years ago and a third of Britain's economic output.
Philip Beresford, the man responsible for assembling the list for over twenty years said: “I've never seen such a phenomenal rise in personal wealth as the growth in the fortunes of Britain's 1,000 richest people over the past year. The richest people in Britain have had an astonishing year."
The Queen managed to have a good year, adding £10million to her personal fortune, it's unclear by doing what, and the newest additions to the list are brothers Sam and Dan Houser, founders of Rockstar Games and the brothers responsible for driving Grand Theft Auto into a 3D format.
Last year, David Cameron and Ozzy (OK, George) Osborne decided to cut the top tax rate from 50 to 45p, a decision that they claim is necessary for the economy's recovery, but opposition party members say is emblematic of how out of touch the Conservatives are. Chris Leslie, Labour's shadow secretary to the Treasury said, “No wonder the super-rich have got much richer over the last year when David Cameron has given millionaires a huge tax cut."
Figures from The Trussell Trust suggest that the use of food banks in the UK has risen by 51% in the past year. According to the charity, 913,000 people received three days of emergency food supplies in the past 12 months. According to the Office For National Statistics, Britain's richest 1% have accumulated as much wealth as the poorest 55%.