The Chancellor, today, delivered a budget which unveiled some targeted spending and reforms addressing the immediate pressing issues of the NHS, Universal Credit and housing. Any good news, however, was rather overshadowed by the bad news on productivity and economic growth. It seems clear that the UK is not going to be able to deliver progress on economic and social inequality - and our shaming levels of poverty - by efficiency and growth alone. Dr Wanda Wyporska, Executive Director of The Equality Trust commented:
Business and Economy
The Equality Trust has responded to new research published today by the Social Mobility Commission which found a quarter of low paid workers are permanently stuck in poorly paid jobs. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:
"The truth is we've become very good at creating low paid jobs, with little chance for progression. This isn't anything to be proud of and it doesn't represent an economy working for the many, not the few.
The Equality Trust has responded to the IPPR's report on economic justice, published today. The report noted the UK's high levels of inequality and called for fairer taxation and redistribution of wealth. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:
"As this report shows the UK is one of the most unequal countries outside of the developing world. The majority of people are benefiting very little from an economic system that has perpetuated the grotesque levels of inequality damaging our society.
The Equality Trust has responded to today's announcement of Government proposals on corporate governance. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:
"These proposals are a step in the right direction, but we need to see far more. Too many businesses are paying absurd amounts to mediocre bosses, whilst ratcheting down the pay of workers. That is why we face such ridiculous and damaging levels of inequality in this country.
The Equality Trust has responded to speculation that the Government is set to introduce requirements for top companies to publish, and explain, the pay ratio between their CEO and average worker. Dr. Wanda Wyporska, Executive Director of The Equality Trust, said:
"This would be a positive step towards fair pay and greater equality in the workplace. The best way to tackle businesses paying bosses millions, but their workers peanuts, is to turn the spotlight on them.