Social enterprise United for All Ages calls for Britain’s wealth and resources to be shared collectively and fairly to transform work and welfare.
It argues that although Britain is not a poor country, ‘wealth is increasingly concentrated in the hands of the few, as inequality grows within and between generations.’
According to the paper, 90 per cent of the country’s wealth is owned by people over 45.
There are 619,000 millionaires, with this number due to grow by a third by 2020.
While a third of Britain’s children live in poverty, the combined wealth of the country’s 1,000 richest people is £400 billion.
Investing in the future – wealth, work and welfare in a multi-generational society, sets out how welfare and work could be reformed, using tax funding raised from Britain’s wealthiest people and companies. The paper proposes six ways to tax wealth to give all children a good start in life, reduce youth unemployment, support families with childcare and eldercare, and enable older people to play a full part in society.
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