Rich nations’ wealth gap widens as welfare cut: OECD

A growing divide between rich and poor risks will yawn still wider if cash-strapped governments keep cutting back the welfare state, an industrialised nations’ think-tank warned on Wednesday.

Weighing into a debate on inequality in developed countries, the 33-nation Organisation for Economic Cooperation and Development said welfare spending had mitigated an increase in the wealth gap that emerged with the 2008-2009 financial crisis, but that was running out.

via Business feed http://www.scmp.com/business/economy/article/1238162/rich-nations-wealth-gap-widens-welfare-cut-oecd