Denmark’s wealth inequality gap continues to widen – The Post

Denmark’s wealth inequality gap continues to widen

Richest 10 percent now own as much as 70 percent of the rest of the population put together

The space in between keeps on increasing (photo: iStock)
February 1st, 2017 12:58 pm| by Christian W
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According to new figures from the national statistics keeper Danmarks Statistik, the disparity of wealth continues to increase in Denmark.

The new figures reveal that the poorest 10 percent in Denmark had average assets of 211,000 kroner in 2015, 13,000 kroner less than the year before, while the wealthiest 10 percent owned average assets of 6.76 million kroner – an increase of 375,000 kroner compared to 2014.

“The figures confirm a rising economic imbalance in Denmark; when the gap between the bottom and the top grows, the jump back up becomes tougher,” Jonas Schytz Juul, a chief analyst at the Economic Council of the Labour Movement (AE), told union news outlet Fagbladet 3F.

“Eventually, people with poor finances won’t be able to make the jump and move through the social levels.”

Juul contended that the development would also undermine the underpinning of Denmark’s prized welfare society model.

READ MORE: Increased disparity among Danes

No more wealthy tax breaks
The figures revealed that Denmark’s richest 10 percent now own as much as 70 percent of the rest of the population put together – a clear indication the government didn’t need to consider any more reforms aimed at benefiting the wealthiest Danes.

“The government must halt their wild dreams of pensioning us off later in order to give the millionaires more tax breaks. They already have enough,” said Per Christensen, the head of 3F.

Christensen contended that the government should instead focus on investing in education and providing a better work environment in Denmark.

Rising inequality is an increasing concern around the world (see video below).