World Bulletin / News Desk
Capitalism in Britain is broken and needs urgent reform because it is leaving young people worse off than their parents, the Archbishop of Canterbury has said.
The UK is "failing" children who "will grow up into a world where the gap between the richest and poorest parts of the country is significant and destabilising", he said.
Writing to mark the launch of a report by think-tank the Institute of Public Policy and Research, the Archbishop said "radical economic reform" was required.
"Why are we hearing so many questions about the economic settlement that older generations are soon to bestow upon the country?
"Questions like, “Why are so many people so poor when others are so rich?” and “Why are young people going to be poorer than their parents?," he wrote.
The Archbishop recommended an overhaul of the education system to better prepare young people for work in an economy where technology rules, as well as "a fairer tax system where those who benefit most from the economy pay their fair share."
The report, part of the IPPR's commission on economic justice, of which Welby is a member, found that the period from 2008 to 2021 is set be the longest period of earnings stagnation for around 150 years.
"Young people today are poorer than previous generations at the same age. For too many people and parts of the country, the ‘economic promise’ of rising living standards has been broken," it said.
"For younger people, this has been a particularly tough decade. Those aged 22–39 have experienced a fall in real earnings of over 10 per cent from their pre-crisis peak to early 2017, while the increase in tuition fees and the interest paid on them have seen a dramatic rise in student debt," it adds.
The report suggests better regulation of the "gig economy", better access to affordable housing and limiting growth in executive pay.
Iraq suffers from acute financial crisis due to dropped oil prices and anti-terrorism expenses
Thousands of supporters poured into the streets of the capital island Male on Friday night and continued their protest rally till early Saturday, the joint opposition said in a statement issued in Colombo.
Also suspended were the accounts of its parent organization, Strategic Communication Laboratories, as well as those of University of Cambridge psychologist Aleksandr Kogan and Christopher Wylie, who runs Eunoia Technologies.
Andrew McCabe was accused of misleading investigators on Clinton Foundation corruption case
Assistant Secretary of State Wess Mitchell told reporters after talks with Cypriot President Nicos Anastasiades on Friday that the U.S. also wants to see a resumption of talks to reunify the ethnically divided island nation.
"There were seven people aboard, they are all believed to be dead," the official said, adding they were US service members.
A doctor at the private Goyal Hospital told AFP Friday that Clinton had undergone screening after suffering pain in her right hand following a fall.
The alliance is "dealing with the issue around this and in cyber and working to define an understanding of what would be a trigger for Article 5," General Curtis Scaparrotti, the commander of NATO forces in Europe, told a US Senate committee.
Speaking to reporters as he returned from a trip to Oman, Afghanistan and Bahrain, Mattis said officials he met with had expressed frequent concerns about Iranian behavior.
The newspaper said that Trump is discussing potential replacements for McMaster, but is willing to take his time because he wants to avoid humiliating him as well as to have a successor ready.
19 individuals, 5 entities blacklisted by Washington
Saeb Erekat slams recent White House meeting on Gaza's deteriorating humanitarian situation
Salim al-Jabouri says Turkey and Iraq will defeat terrorism together through 'full cooperation'
Oil is the lifeblood of OPEC member Venezuela's economy, but a major wave of political unrest that shows no sign of abating has slashed output.