Labour released figures last night that show the return of economic growth has overwhelmingly benefited the top 1% of earners.
The disclosure of the findings from
Over the past year, the share of national post-tax income of the top 1% of taxpayers - just 300,000 people - has risen from 8.2% in 2012-13 to 9.8 % in 2013-14. Over the same period, the bottom 90% - a total of 27 million taxpayers - have seen their share of post-tax income fall from 71.3% to 70.4%, according to estimates contained in the latest Income Tax Liabilities Statistics published by HMRC. They cover the year when GDP growth returned and the top rate of income tax on earnings above pounds 150,000 was reduced from 50% to 45% .
Labour will use the figures to argue that there has been no recovery for middle
The raft of labour market statistics published today will be studied to see how quickly unemployment is likely to fall below its pre-crisis levels. The rate in the three months to February stood at 6.9%, down sharply from a year ago but still well above its pre-crisis level of about 5%.
New immigration numbers are likely to show that as many as 30,000 extra Romanians and Bulgarians were working in the
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