One cause of income inequalities is the Cost of Living Crisis.
The COLC is due to a rise of inflation within the UK - growing costs of essentials, stagnating wages as a result of the economic impact of issues such as COVID, Brexit, Russio-Ukrainian War
This has caused income inequality as poorer Families are being more fundementally hit as they have less money to cope with the increase
Cost of Living Crisis - EXAMPLE & ANALYSIS
On average, the lowest income families are spending, in proportion, twice as much on food and housing bills
This shows that COLC -> those on lower income losing more money furthering issues of poverty.
Cost of Living Crisis - REBUTTAL
Everyone is being affected by the COLC
The sudden inflation has left many needing to rely on others for financial support
Cost of Living Crisis - REBUTTAL (EXAMPLE & ANALYSIS)
23% of adults in GB are currently borrowing money/using more credit.
This shows the reliance and economic dependencies created by the crisis, not just localised to one particular group in society.
Cost of Living Crisis - EVALUATION
COLC has had a widespread impact, weakening it as a cause of income inequality.
