OECD have found that the growing income inequality has impacted on economic growth. Equality can be restored by government with high taxes on the wealthy but we believe philanthropy can play a big part too. Community Foundations are ideally placed to distribute donations from philanthropists to the most disadvantaged locally which can enable social mobility and bring society together.
Income inequality has a "statistically significant impact" on economic growth, according to research by the Organisation for Economic Co-operation and Development (OECD). In the UK, rising inequality cost the economy almost nine percentage points of GDP growth between 1990 and 2010, the think tank said.
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