The UK has the 7th largest GDP in the world according to the UN. This is a massive decline from 1938 when Britain was 1st (see: http://en.wikipedia.org/wiki/List_of_largest_empires#GDP_size and http://upload.wikimedia.org/wikipedia/commons/f/f4/Gdp29-41.jpg) and this fall from grace shows no sign of reversing. The reality that we must accept is that the days of empire are long gone, and former colonies, such as Australia, Canada and India, are moving on and gaining ever more influence and power on the world stage.
The (United Nations Human Development) report shows that the poorest 40 per cent of Britons share a lower proportion of the national wealth - 14.6 per cent - than in any other Western country. This is only marginally better than in Russia, the only industrialised nation, east or west, to have a worse record.In an unpublished paper Michael Bruno, chief economist of the World Bank, says: "Reducing inequality not only benefits the poor immediately but will benefit all through higher growth."