Inventor James Dyson topped the list for the first time, with an estimated wealth of £16.2 billion. — AFP pic
Britain’s wealthiest have seen tens of billions of pounds wiped off their annual combined wealth — the first fall in a decade, according to theThe respected ranking of the country’s 1,000 richest people found they had collectively lost £54 billion in the last few months alone. “The general rule, despite the changing fortunes of individual rich folk, is that money continues to rain upwards,” said Rowland Atkinson, a University of Sheffield professor and author of“So it seems clear that those with plenty will more than survive the economic crisis generated by Covid-19,” he wrote in an article on non-profit media platform The Conversation.
Meanwhile, the spectre looms large of another decade of austerity to mirror the period after the 2008 financial crisis when inequality rose and hit the poorest hard. Johnson has suggested he will avoid excessive cuts to public services, given the backlash against the deeply unpopular austerity policies from 2010.
“The current government has shown that it is open to radical thinking to tackle the big questions now,” he added, pointing to government furlough schemes and state-backed loans. A YouGov poll in mid-May indicated 61 per cent of Britons backed a wealth tax on those with net worths of over £750,000. saw a record number of comments last month when it held a question-and-answer session on the topic.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaymail - 🏆 1. / 86 Read more »
Source: fmtoday - 🏆 5. / 72 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: NST_Online - 🏆 17. / 53 Read more »
Source: fmtoday - 🏆 5. / 72 Read more »
Source: malaysiakini - 🏆 20. / 51 Read more »