Large scale income inequality cuts quality of life and eats away at the fabric of society. Look at the evidence here http://www.equalitytrust.org.uk/why . We should adopt income inequality as one of the key indicators of progress in our society and urgently enact measures to cut inequality (see http://www.equalitytrust.org.uk/why/remedies ). It cannot be fair for instance that Bristol's first billionaire, businessman Peter Hargreaves (pictured) who now has a staggering personal fortune of £1,020 million, has seen his fortune soar by £450m in just 12 months when so many are losing their jobs, having their pay cut, having public services cut.
See this Post report on how A MIXTURE of Bristol's businessmen and celebrities made it onto this year's prestigious Sunday Times Rich List.
Also see this Post report on Peter Hargreaves
(If he has made an additional £450 million in 12 months and has a personal fortune of over £1 billion why does he say "When people ask me what have I done for this country, I tell them that I pay £10 million in taxes every year." ? Just a figure of speech? Or is this really the amount of tax he pays annually? £10 million is only 1% of his total reported financial wealth and only just over 2% of the £450 million he is reported to have seen his fortune soar by in the space of a single year!).