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Inequality and Inclusive Growth in Rich CountriesShared Challenges and Contrasting Fortunes$
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Brian Nolan

Print publication date: 2018

Print ISBN-13: 9780198807032

Published to Oxford Scholarship Online: July 2018

DOI: 10.1093/oso/9780198807032.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 19 October 2021

Inequality and Inclusive Growth

Inequality and Inclusive Growth

The Case of the United Kingdom

Chapter:
(p.296) 11 Inequality and Inclusive Growth
Source:
Inequality and Inclusive Growth in Rich Countries
Author(s):

Damian Grimshaw

Anthony Rafferty

Matt Whittaker

Publisher:
Oxford University Press
DOI:10.1093/oso/9780198807032.003.0011

This chapter sets out how inequality and household incomes evolved in the United Kingdom in recent decades and the extent to which different periods saw very different outcomes in that regard. The very sharp increase in inequality seen in the early/mid-1980s was followed by broad stability, but still meant that inequality has been at a substantially higher level since then than through the preceding decades. Substantial growth in real incomes was seen over the period from the mid-1980s to the mid-2000s, though fluctuating within those years, but wages and household incomes flatlined in the years coming up to the economic Crisis and were significantly hit by it. Prospects for the future are even more concerning in light of recent price inflation, further cuts to working-age benefits in prospect, and the impact of Brexit.

Keywords:   inequality, living standards, deindustrialization, squeezed middle incomes, housing market, working-age benefits, wage stagnation, productivity

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