Cost of Inequality 2023

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The “Cost of Inequality 2023” report reveals the UK’s escalating inequality and its profound societal and economic repercussions. It highlights that the top 10% in the UK disproportionately own nearly half of the total wealth, while 171 billionaires possess as much wealth as over 40 million citizens. This disparity has led to detrimental effects on health, education, crime rates, and overall societal well-being. Economically, such inequality has weakened infrastructure, increased regional disparities, and heightened vulnerability to economic downturns. The report quantifies the cost of inequality in physical and mental health, imprisonment, and homicide, estimating it between £106.2 billion and £128.4 billion annually. These findings underscore the significant financial and societal impacts of inequality and the urgent need for a more equitable society.