A recent report says that 1 percent of the citizens of the United Kingdom own 70 percent of the wealth.
They are effectively cornering the wealth of the Country in a manner, I suggest, which is detrimental to the wellbeing of the populace. Why do I say this? Because from such a strong position the wealthiest can to continually increase their holdings of cash, shares and land. They never seem to tire of acquiring yet more wealth and therefore power. What they hold is never enough.
If it wasn't wealth being cornered but, say, rare earth metals necessary for the IT industry, or uranium, the government would intervene and stop it. But with wealth accumulation there is no mechanism. Attempts to adequately tax the wealthy results in financial flight to safe off-shore havens.
The only remedy is to limit the amount of land that can be held by one person or family, closing all loopholes such as trusts, pension funds etc.
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