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Causes of income inequality in the UK and evaluate the measures that could be used by the UK government to achieve a more equal distribution of wealth - Essay Example

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Income inequality happens when individuals who contribute to the economy do not experience the same level of reward in the form of salaries, wages and other forms of payment. This is existent in the United Kingdom because the society and economy have identified disparities in…
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Causes of income inequality in the UK and evaluate the measures that could be used by the UK government to achieve a more equal distribution of wealth
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Download file to see previous pages and Scott, G., 2012). The same cannot be said for high manual labor demanding jobs characterized by unpredictable shortages of skilled manpower. These have higher individual income rates than high growth rate jobs. The service sector in the UK which demands for low-skill and has limited trade union cover is the worst in terms of worker remunerations. The sector is often characterized by employment insecurity and unclear job descriptions which vary depending on the market demand, employers’ unique needs as well as personal pressures/ stress/ problems. The effect of globalization has seen an influx of high-skill jobs especially in high growth industries. Persons with unique skills are increasingly getting well paid than witnessed in previous years. Academic exposure has also defined the industrial/ job variations with professionals being scaled depending on their levels of education (Mooney, G. and Scott, G., 2012). This is the main factor determining labor as skilled, un-skilled, manual, automated, permanent, contractual and casual, among other classifications within the United Kingdom.
State benefits including unemployment income and benefits from the state welfare are critical in the United Kingdom individual income disparities. This is because the state benefits are directly connected to the prevailing retail prices within the economy and not in any way indexed to the earnings of individuals (Eibel, D., Rockika, E., and Leaman, J., 2013). This explains why relative incomes of people who are state benefit oriented decreases over time. This factor has defined the inflation effect on large families surviving on minimum wage as well as households’ dependant on pension. The third factor in unequal income distribution is unemployment. This affects income distribution in both the short-run and long-run. In the long-run it affects education, quality of labour as well ...Download file to see next pagesRead More
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