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| These are the ten most unequal developed countries in the world | These are the ten most unequal developed countries in the world |
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| The UK is one of the most unequal developed nations in the world, according to a new report warning that such disparity stunts economic growth and damages the fabric of society. | The UK is one of the most unequal developed nations in the world, according to a new report warning that such disparity stunts economic growth and damages the fabric of society. |
| The OECD’s study 'In It Together: Why Less Inequality Benefits All' has revealed that income inequality rises both in times of prosperity, as well as when the economy is performing badly. | The OECD’s study 'In It Together: Why Less Inequality Benefits All' has revealed that income inequality rises both in times of prosperity, as well as when the economy is performing badly. |
| It added that growth has disproportionately benefited high income groups, and left lower income households behind. | It added that growth has disproportionately benefited high income groups, and left lower income households behind. |
| In turn, inequality has negatively affected GDP growth as the distance between the lower 40 per cent from the remainder of society becomes wider. | In turn, inequality has negatively affected GDP growth as the distance between the lower 40 per cent from the remainder of society becomes wider. |
| Across 34 member states, income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average, according to the study. | Across 34 member states, income inequality between 1985 and 2005 knocked 4.7 percentage points off cumulative growth between 1990 and 2010 on average, according to the study. |
| “Lower income people have been prevented from realising their human capital potential, which is bad for the economy as a whole,” an abstract to the study states. | “Lower income people have been prevented from realising their human capital potential, which is bad for the economy as a whole,” an abstract to the study states. |
| To make their findings, researchers ranked inequality in the developed world according to the distribution of income. | To make their findings, researchers ranked inequality in the developed world according to the distribution of income. |
| The OECD says its findings raise social and political questions in addition to economic ones. | The OECD says its findings raise social and political questions in addition to economic ones. |
| Researchers have urged world leaders to tackle resulting problems by developing policies targeting non-standard work and job polarisation; persistent gender gaps; and high wealth concentration. | |
| Get the latest OECD data HERE. | Get the latest OECD data HERE. |
| Additional reporting by AP | Additional reporting by AP |