This report’s warning that wealth inequality is set to rise is deeply worrying. It further highlights why this is the wrong time for the Tories to go ahead with £2.3billion worth of inheritance tax giveaways that would at most benefit 63,000 estates.

The Chancellor should not be pushing ahead with policies that could contribute to an increase in wealth inequality and further reward those already well off in our country, especially at a time when many of our public services such as the NHS are being hit with cuts that have led to rising waiting times and bed shortages.