Young people no longer able to rely on hard work to improve their living standards as they age, says IFSWorking for a living has become a harder way to grow rich in modern Britain amid rising wealth inequality over the past decade, according to research published today that warns of a breakdown in social mobility as inheritances grow in importance.The Institute for Fiscal Studies said wealth had grown rapidly compared with earnings from work since the 2008 financial crisis, driven by a surge in house prices and financial assets – such as stocks and shares – at a time of flatlining progress for average wages. Continue reading…
Source : theguardian.com
Read more…Rising asset wealth and falling real wages ‘drive inequality in Britain’
