Economy is ‘broken and unequal’, says Welby

THE Archbishop of Canterbury last night said Britain’s economic model was ‘broken’ as he backed a report calling for higher taxes on the rich to tackle inequality.

In a highly political intervention, the Most Reverend Justin Welby said the UK stood at a watershed and claimed half of households had seen no meaningful income boost for a decade.

He suggested that youngsters were left behind while the richest had enjoyed runaway pay rises. Many had seen their living standards fall, with the gap between rich and poor destabilising the country.

He also called on Britain to renew its values and implement a fairer tax system to address a ‘profound state of economic injustice’. The Arch- bishop made his controversial remarks in an article for the Financial Times as he backed a report from the Left-wing Institute for Public Policy Research think-tank on the issue of economic justice in Britain’s economy.

Last night, critics attacked the Archbishop – with Conservative MPs pointing out that Britain had record employment and describing his claim of a broken economy as ‘absurd’.

They pointed to recent reports that suggested income inequality had actually narrowed.

Religious figures also suggested that the Archbishop should concentrate on the ‘spiritual crisis’ facing the country following news that more than half of Britons now identify as having no religion.

Tory MP Sir Paul Beresford said employment was at record levels and factory output was soaring. He added: ‘Foreign firms are queueing up to invest. If the economy was broken, that wouldn’t happen.’

‘Foreign firms are queueing to invest’