inequality statistics

Inequality slows economic growth

The Organisation for Economic Cooperation and Development released a report on Tuesday suggesting that higher levels of inequality slow economic growth, reports The Guardian. The research analysed data from all 34 of its wealthy member states. 

It estimates that if UK inequality had not increased in recent decades the economy would be 20% bigger. In contrast, lower levels of inequality in Spain, France and Ireland boosted their economies before the recession.

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