I\’m not sure that this is correct:
The result was dramatic, not only in the huge boost to inequality and the income of the well-off, but also in the US-style decline in the share of GDP going to wages and salaries – which fell from a peak of 65% in 1975 to 53% last year – as corporate profits swelled.
Around 50% only for wages and salaries? That doesn\’t sound right at all. Anyone understand the ONS site well enough to see where he\’s plucked that figure from? Or what the actual figure is?
I\’m pretty sure that the last time I looked the number was still in the mid 60s…..