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20 October, 2014

201014 PUDI Report

Regular reports on the growing Poverty, Unemployment, Debt and Inequality of the neo-capitalist world

UK:

1.6 million older people live in poverty, of whom 900,000 are living in severe poverty.”

The latest estimates of take up found that in 2009–10 around a third (up to 1.6 million) of older people who were entitled to Pension Credit were not claiming it. On average they were missing out on over £1700 a year (£33 a week).”

Up to 2.2 million older people were missing out on help with their council tax bill which, on average would have reduced their annual bill by £728.”

Up to 390,000 more older people could have claimed Housing Benefit to reduce their rent by an average of £48 a week.”

... with their incomes being stretched by costs, many older people who are struggling to get by are worried about their money running out. Frequent worries are:
The cost of care they need now or may need in the near future.
The rising prices for fuel and food; during the winter some may find they have to choose between the two. Above all, many fear for the future and for any unexpected major expense that could derail their careful financial management.”


USA:

The wealthiest 5 percent of American households held 54 percent of all wealth reported in the 1989 survey. Their share rose to 61 percent in 2010 and reached 63 percent in 2013,”

The distribution of income and wealth in the United States has been widening more or less steadily for several decades, to a greater extent than in most advanced countries.”

According to a study by Harvard University, the growing income inequality in the US between the richest Americans and the middle and lower classes is 'unsustainable' and may worsen.”

The study, released last month by the Harvard Business School and titled 'An Economy Doing Half its Job', highlighted problems with the widening US wealth gap, education system, transport infrastructure, and the effectiveness of the political system.”

The study said that while large US companies were recovering their competitiveness internationally, workers continue to struggle for better pay and benefits.


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