Report: The IFS Deaton Review Launch
The Institute For Fiscal Studies (IFS) has introduced the IFS Deaton Review – a major investigation into economic inequalities in the UK, set to commence by Nobel-prize winning economist, Sir Angus Deaton.
With a remit to look at inequalities in pay, wealth and health, the launch report summarises current inequality measures, including challenging the norms that things have gotten worse (it finds, for example, that household incomes are now more evenly distributed across most of the distribution than they were 25 years ago).
However, it already reveals there are more worrying trends within this.
- The share of income going to the top 1% richest households has nearly tripled in the last four decades – from 3% in the late 1970s to 8% today.
- The lowest-earning households today earn little more than their counterparts did in the mid 1990s
- Middle-earning households earn 20-30% more than they did in the 1990s
The review is reported to span the next five years.