Huge increases in wealth in the UK in recent years have combined with high levels of wealth inequality to produce a record ‘wealth gap’; the richest 50 families have more wealth than the poorest half of the population. Meanwhile nearly three in 10 children live in poverty, with child mortality rising for the first time in decades.
85% of the British public are concerned about inequality. Inequality is unfair, and undermines economic growth, social mobility, social cohesion, democracy and action on net zero. Yet few politicians see reducing inequality as a priority, even though it is a key barrier to their objectives.
Businesses can play a role in tackling inequality by, for example, acting on low pay, responsible tax and diversity. But this will only get us so far. The state needs to invest more in infrastructure and public services, and to better protect people via regulation. This will also benefit businesses. Businesses have huge influence on government policy, and we believe they can do more to make the case for bold government action on inequality that goes beyond the government’s Plan for Change.
Are you a senior or rising business leader who is concerned about the existing impacts and future risks that inequality poses to our economy, society, democracy and environment? Do you want to be part of the solution but are not sure where to start?
We are considering setting up a network for senior business people who want to use their influence to help to tackle inequality in the UK. We are in the market research phase, and are seeking advice on the precise form and function of this network. It could, for example, focus on enabling members to meet with like-minded peers in a supportive and safe space, and/or to help them to use their influence to change things for the better, for example by encouraging their employer to call for the government to do more to tackle inequality. We do not want to focus on ESG, EDI, or other direct ways that businesses can reduce inequality; instead, we are looking to help business people to change the public conversation about inequality.
If you match this description and would like to influence the development of this project, please contact us to set up a 30-minute zoom call. Thank you.
