Strange how political commentators and many politicians state, as fact, that inequality is rising when the opposite is fact.
Another example of cognitive bias?
You might think, if the prime minister is saying this, Britain must be suffering from a crisis of rising inequality. In fact, as official figures released shortly after her speech showed, inequality has been falling. The Office for National Statistics (ONS) reported that in the 2015-16 tax year inequality in Britain measured by the Gini coefficient fell to its lowest since 1986. As the ONS put it: “There has been a gradual decline in income inequality in the last 10 years, with levels similar to those seen in the mid to late 1980s.”
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