A report today from the Institute for Fiscal Studies claims that while those living in the British South-East are far better off than the rest of the country, the gap between the poorest 10 per cent and top 10 per cent has shrunk. Flying in the face of conventional wisdom and political posturing, the reason for the drop is that the very highest earners have seen a considerable drop in their earnings and the inequality is smaller than before the financial crisis. The data looked only at income, not wealth.
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