Is Britain going bust?
Posted by: John Phoenix
Britain’s economy is in the world’s largest top ten. Its GDP is about £3,22tn, amounting to about £48,000 per capita. There are estimated to be 31.5 million households in the UK, meaning that GDP per household would amount to some £122,000. Average income per household is in the region of £40,000. It sounds very comfortable, but of course the reality is very different.
Inequality of distribution
The inequality inherent in the way Britain’s national income is distributed, as evidenced by Britain’s gini coefficient standing (officially) at 0.36, is startling. If wealth distribution were perfectly equal the gini coefficient would be 0, and if all the country’s wealth belonged to a single person it would be 1. The to...










