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Income inequality has risen in Europe, but remains stable in Belgium
A study published by the World Inequality Lab found that there has been a rise in income inequality in Europe since 1980. However, this is not the case for Belgium.
In most European countries, the increase in national income has been reserved mostly for the wealthiest 10% of citizens. Along with this, the top 1%'s incomes have grown at double the rate of the average.
The findings have left the authors of the study calling for more progressive taxation of individuals and businesses at a European level.
Despite the findings, this still leaves income inequality in Europe at far less than other countries such as the United States. Since 1980, the average income of the lower 50% in Europe has risen by 37%, whereas in the US, there has been no rise in income over the same period.
In Belgium, the share of income among the highest-earning 10% is exactly what it was in the early 1990s, and the lowest 50% have stable income levels as well.
Belgium's relatively low levels of poverty can be attributed to tax redistribution, social spending and wage regulation, according to the study.