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What are some of the benefits of redistributing income in the UK?

The redistribution of income refers to the shifting of income from 'winners' to losers'. Currently there is a massive issue with the rich getting richer in the UK while the poor are getting poorer. As a result this is a very relevant topic and is being discussed frequently today. 

If the NMW is raised in the UK in an attempt to do this, it can be expected that people with lower/weaker incomes can be helped as standards of living rise for the masses. 

The impact of low inflation is significantly small on most of the people in the UK, however it greatly impacts those on or close to the poverty line. Therefore if income is more evenly distributed through raising the NMW, less people in this bracket should feel the effects of lower levels of inflation. In fact if the NMW is raised to a considerable degree, many people would be able to escape the 'Poverty Trap' and so the government are paying less benefits and even gaining through higher levels of employment; if the UK is moves towards full capacity output as a consequence of more people in work, it is able to be more competitive in the International marketplace. 

Safiyyah H. GCSE English Language tutor, A Level English Language tut...

3 months ago

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