Over the past half-century, a rising share of economic activity in the UK and other rich countries has been connected with ‘bad’ wealth accumulation.
- Visiting Fellow, School of Policy Studies, University of Bristol
The UK tax system is still heavily based on earnings from work, but household wealth is now six times GDP.
Decades of privatisation have left the UK asset-poor – but a national wealth fund as proposed by Labour could help to future-proof the country’s finances.
The UK Labour Party used to radically advocate for common ownership. But as private wealth in Britain benefits from ever greater tax breaks, anti-inequality sentiment is waning.
Prioritising economic growth without a plan to curb exploitative business practices is not a solution. The UK needs a return to the forward-thinking social reforms of 1945.
The late 1970s marked a high point for economic equality in the UK. Returning to the progressive policies that made that possible could solve today’s cost of living crisis.
Britain’s economic system is built on inequality. Few governments have attempted to rectify this.
It’s becoming a matter of ‘when’ rather than ‘if’ the first central bank takes the plunge and introduces quantitative easing for the people.
A powerful weapon against inequality that has been largely ignored in the UK is the collectively-owned social wealth fund.
Contact Stewart for
- General
- Media request
- Speaking request
- Consulting / Advising
- Research collaboration
- Research supervision
- Website
- Article Feed
- ORCID
- Joined
