Income inequality has been growing for decades in the UK, extensive evidence reveals. In recent years, so-called ‘austerity’ has served as a smokescreen for even more wealth to be transferred to a handful of millionaires.
Low share prices when the UK government privatised Royal Mail cost the taxpayer around £1 billion, a parliamentary committee has reported. Meanwhile the National Health Service and social services are in financial crisis.
When the Soviet Union collapsed a small group of people suddenly became extremely rich. They acquired huge State industries at ridiculously low prices. The people referred to this process as "prikhvatizatsiya," or "grabification."