'While millions of families struggle to pay their bills, heat their homes and feed their kids, this year’s Rich List shows that the super-wealthy are lining their pockets to an extent never seen before' | PaulJSweeney
The publication of the Sunday Times Rich List; the annual event where the wealthiest people in the country get the opportunity to flaunt their bank balances in what has fast become a grotesque illustration of the vast inequalities existing in modern-day Britain.
It shows no sign of slowing down and in many instances, it is ordinary working people like you and your families that are generating the wealth that is being sucked up out of our economy by this new band of wealthy elites. This simple illustration alone is a stark reminder of the gross inequalities that exist at the very heart of our economy.
Shell recently posted record profits of almost £40 billion; BP raked in almost £30 billion in profit in 2022; Tesco, Sainsbury’s and ASDA almost doubled their pre-pandemic profits with combined profits of £3.2 billion in 2021; and research from Unite the Union analysing the largest 350 companies in the UK shows that their profit margins for the first half of 2022 were 89% higher when compared to the same period in 2019.
For far too long, corporate greed has been bankrolled by working people. We saw it with the financial crisis as banking institutions were bailed out at the taxpayers’ expense, and we are seeing it again with businesses allowed to profiteer off the back of your hard-earned money.
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