<html><head><meta http-equiv="content-type" content="text/html; charset=utf-8"></head><body dir="auto"><div><br></div><blockquote type="cite"><div><br></div></blockquote><div><span></span></div><blockquote type="cite"><div><meta http-equiv="Content-Type" content="text/html charset=windows-1252"><div><br></div><div><div align="center" style="color: rgb(34, 34, 34); font-family: arial; font-size: small; background-color: rgb(255, 255, 255);"><br></div><div align="center" style="color: rgb(34, 34, 34); font-family: arial; font-size: small; background-color: rgb(255, 255, 255); position: static; z-index: auto;"><table border="0" cellspacing="0" cellpadding="0" width="600" style="width: 450pt; background-color: rgb(253, 253, 253); border-collapse: collapse; position: static; z-index: auto;"><tbody><tr><td valign="top" style="font-family: arial, sans-serif; margin: 0px; padding: 0cm;"><div align="center"><table border="0" cellspacing="0" cellpadding="0" width="600" style="width: 450pt; background-color: white; border-collapse: collapse; position: static; z-index: auto;"><tbody><tr><td style="margin: 0px; border-style: none none solid; border-bottom-color: rgb(80, 80, 80); border-bottom-width: 4.5pt; padding: 7.5pt;"><div style="margin: 0cm 0cm 0.0001pt; font-size: 12pt; font-family: 'Times New Roman', serif; text-align: right;"><b><span style="font-size: 25.5pt; font-family: Arial, sans-serif; color: rgb(31, 73, 125);"><img apple-inline="yes" id="EA3C5EB0-5183-4F12-8AAA-CBA703FF2E6C" height="114" width="154" apple-width="yes" apple-height="yes" src="cid:BF65A85E-F8AF-4BA4-B9AD-996707211091"></span></b><u></u><u></u></div></td><td width="100%" style="margin: 0px; width: 260px; border-style: none none solid; border-bottom-color: rgb(80, 80, 80); border-bottom-width: 4.5pt; padding: 7.5pt;"><h1 style="margin-right: 0cm; margin-left: 0cm; font-family: 'Times New Roman', serif; margin-bottom: 0.05pt;"><p style="margin: 0px 0px 16px; font-family: Arial; color: rgb(99, 36, 36);"><i style="font-size: 34px;">Rising Inequality: News and Updates</i></p></h1></td></tr></tbody></table></div></td></tr><tr><td valign="top" style="font-family: arial, sans-serif; margin: 0px; padding: 0cm;"><div align="center"><br></div><div align="center"><table border="0" cellspacing="0" cellpadding="0" width="600" style="width: 450pt; border-collapse: collapse; position: static; z-index: auto;"><tbody><tr><td valign="top" style="margin: 0px; padding: 7.5pt;"><div style="margin: 0px;"><span style="letter-spacing: 0px;"><b><font face="Helvetica"><i>News</i></font></b></span></div><div style="margin: 0px;"><span style="letter-spacing: 0px; font-size: 14px;"><b><font face="Helvetica"><br></font></b></span></div><div style="margin: 0px;"><font face="Helvetica"><span style="font-size: 14px; letter-spacing: 0px;">This week the Credit Suisse global wealth report has found that the top 1% wealthiest people own nearly 50% of global wealth, while the bottom 50% own less than 1% of the world</span><span style="font-size: 14px;">’</span><span style="font-size: 14px; letter-spacing: 0px;">s wealth. Once again, inequality is on the rise.</span></font></div><div style="margin: 0px;"><div style="color: rgb(102, 102, 102); font-size: 12px; margin: 0px;"><span style="letter-spacing: 0.0px"><font face="Helvetica"><br></font></span></div><div style="color: rgb(102, 102, 102); font-size: 12px; margin: 0px;"><span style="letter-spacing: 0.0px"><font face="Helvetica">In almost all countries the wealthiest <b>10%</b> of adults possess more than <b>10 times</b> the median wealth, and the wealthiest <b>1%</b> possess more than <b>100 times </b>the median wealth. </font></span><span style="font-family: Helvetica;">The downward trend in economic inequality seen in the 20th century has stalled, and is possibly going into reverse and the economic recovery is benefiting only the rich.</span></div><div style="color: rgb(102, 102, 102); font-size: 12px; margin: 0px; min-height: 14px;"><font face="Helvetica"><br><span style="letter-spacing: 0.0px"></span></font></div><div style="font-size: 12px; margin: 0px;"><span style="letter-spacing: 0px;"><font face="Helvetica"><b style="color: rgb(102, 102, 102);">
The UK</b><font color="#666666"> is faring particularly badly, as the only country in the G7 group of leading economies with wider inequality now than at the turn of the century. The amount of Britain’s wealth controlled by the richest 10% increased to 54.1% this year, compared to 51.5% in 2000. </font><br>
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Oxfam’s head of inequality, </font><b style="color: rgb(102, 102, 102);">Emma Seery</b><font color="#666666">, said: </font></font></span></div><div style="font-size: 12px; margin: 0px;"><span style="letter-spacing: 0px;"><font face="Helvetica"><i><br></i></font></span></div></div><blockquote style="margin: 0 0 0 40px; border: none; padding: 0px;"><div style="margin: 0px;"><div style="margin: 0px;"><span style="letter-spacing: 0px; font-size: 14px;"><font face="Helvetica"><i>“In the UK, successive governments have failed to get to grips with rising inequality. This report shows that those least able to afford it have paid the price of the financial crisis whilst more wealth has flooded into the coffers of the very richest.”</i></font></span></div></div></blockquote><div style="margin: 0px;"><div style="font-family: Arial; color: rgb(102, 102, 102); font-size: 12px; margin: 0px;"><span style="letter-spacing: 0.0px"><br></span></div><div style="font-family: Arial; margin: 0px;"><span style="letter-spacing: 0px;"><b>Collective Bargaining</b></span></div><div style="font-family: Arial; color: rgb(102, 102, 102); font-size: 12px; margin: 0px;"><img apple-inline="yes" id="D66A3722-8AA3-410E-9751-19A95D82165E" height="206" width="150" apple-width="yes" apple-height="yes" style="float: right;" src="cid:4C49AD42-D46E-48BA-BE76-3EF5173236B3"></div></div><div style="margin: 0px; font-size: 12px; font-family: Arial; color: rgb(102, 102, 102);"><span style="letter-spacing: 0.0px"><br></span></div><div><span style="color: rgb(102, 102, 102); font-family: Helvetica; font-size: 12px;">There is a strong correlation between a lack of collective bargaining power and </span></div><div><span style="color: rgb(102, 102, 102); font-family: Helvetica; font-size: 12px;">high income inequality. As Len McCluskey said at Labour party conference:</span></div><div><span style="color: rgb(102, 102, 102); font-family: Helvetica; font-size: 12px;"><br></span></div><blockquote style="margin: 0 0 0 40px; border: none; padding: 0px;"><div><span style="font-size: 14px;"><font face="Helvetica"><i style="color: rgb(65, 56, 57); line-height: 18px; background-color: rgb(255, 255, 255);">“Strengthening the collective rights of workers. Using trade union strength and collective bargaining to tackle inequality. Recognising that strong trade unions are not just a necessity to balance the power of the employer in the workplace, but to balance the power of the moneyed elite in society”</i><span style="color: rgb(65, 56, 57); line-height: 18px; background-color: rgb(255, 255, 255);">. </span></font></span></div></blockquote><div><span style="color: rgb(65, 56, 57); font-size: 16px; line-height: 18px; background-color: rgb(255, 255, 255);"><br></span></div><div><font color="#413839"><span style="font-size: 12px; line-height: 18px;">The IER works extensively on collective bargaining - more information on our research and publications, as well as Len McCluskey’s speech, are</span></font><span style="font-size: 12px; color: rgb(65, 56, 57); line-height: 18px; background-color: rgb(255, 255, 255);"> available </span><a href="http://www.ier.org.uk/events/len-mccluskey-sally-hunt-conversation" style="font-size: 12px;">here</a>.</div><div><br></div><div><br></div><div><span style="font-size: 12px;"><font color="#413839"><span style="line-height: 18px;"><br></span></font></span></div><div><img apple-inline="yes" id="F441D0E5-00EF-4D32-AC37-535420656842" height="535" width="535" apple-width="yes" apple-height="yes" src="cid:975DED94-465B-4F17-937C-7A07BFDCB9C0"></div><div><span style="font-size: 12px;"><font color="#413839"><span style="line-height: 18px;"><br></span></font></span></div></td></tr></tbody></table><div><br></div></div></td></tr><tr><td valign="top" style="font-family: arial, sans-serif; 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