Posts Tagged ‘tax’

A one-off wealth tax is radical but astonishingly popular, says John Underwood

16/08/2010, 07:00:23 PM

For over thirty years, the Glasgow Media Group has linked the analysis of media content with the processes by which audiences receive and interpret messages.  It has worked across a range of disciplines and well beyond the normal academic boundaries of communication studies.  It is not surprising, therefore, that the Media Group should now turn its attention to media coverage of the national economic “crisis” and the need for cuts.

In an article in today’s Guardian, Professor Greg Philo, Research Director and one of the leading lights of the Glasgow Media Group asks why – amidst all the discussion of the deficit – there has been so little discussion in the media of how much wealth we have in Britain.  The truth, of course, is that we are the sixth richest nation on earth with total personal wealth of £9,000bn. As Philo points out, this sum dwarfs the national debt.

Naturally, this wealth is overwhelmingly concentrated at the top.  The richest 10% of Britons own £4,000bn, an average of £4m for each of the richest households.  The poorest half own less than 10% of Britain’s wealth between them.


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