Report backed by business leaders says gains from growth are going largely into profits for corporations rather than wagesBritain’s economic model is broken and produces widespread inequality, the Archbishop of Canterbury has warned in a report backed by business leaders. “Our economic model is broken,” said Welby. Pointing to rising debt levels, the report called for an urgent public debate on the role of banks and the financial sector in the British economy. Tom Kibasi, the IPPR director and chair of the commission, said: “We don’t have a British economic model. “The persistent economic problems we have experienced since the 2008 financial crash won’t be fixed with a bit of tinkering.

Source: The Guardian September 05, 2017 18:26 UTC