Structural corruption, political donations, House of Lords appointments, and media concentration are concentrating power in the hands of the wealthy, undermining democracy, according to a report, citing a study by Equality Trust<\/p>\n
Are super-rich wielding power in Britain? A stark new report from the Equality Trust warns that structural corruption and the rise of \u201cconduits for unelected power\u201d are reshaping British politics.<\/p>\n
Over the past two decades, the influence of the ultra-wealthy and the institutions that amplify it has grown significantly, the report claims, raising concerns about the concentration of power outside the electorate.<\/p>\n
\u201cOur new Concentration of Power Index shows that wealth concentration aligns with power. Our index rises almost exactly in step with increases in the top 1% share of wealth. This correlation is strong and statistically significant,\u201d The Guardian quoted Priya Sahni-Nicholas, the co-executive director of Equality Trust, as saying.<\/p>\n
STORY CONTINUES BELOW THIS AD<\/p>\n
The study titled \u2018Money, Media and Lords: How the ultra-rich are shaping Britain\u2019 argues that unelected power in Britain has risen sharply at the same time as an increasing amount of money is spent on political access and influence.<\/p>\n
\u201cThese trends move in lockstep with wealth concentration at the top and are increasingly embedded within the country\u2019s political and media systems,\u201d added Sahni-Nicholas.<\/p>\n
Power concentration<\/p>\n
The report highlights how the House of Lords appointments, large political donations, and concentrated media ownership act as \u201cconduits for unelected power.\u201d<\/p>\n
Over the past 20 years, unelected membership of the Lords have risen from 676 to 803, while political donations above \u00a3250,000 jumped from \u00a37.6m to over \u00a347m.<\/p>\n
Last week, seven peers were accused of acting \u201call but unconstitutionally\u201d by effectively blocking a Commons-passed bill.<\/p>\n
Analysis by The Guardian found that one in ten peers received payment for political advice during the 2019\u20132024 parliament.<\/p>\n
Meanwhile, media ownership has become more concentrated, with the UK\u2019s three largest news conglomerates controlling roughly 90% of the market, up from 71%.<\/p>\n
\u201cThis is structural corruption,\u201d Sahni-Nicholas argued. \u201cIt is a legal, slow-moving operation where institutions adapt to serve concentrated wealth.\u201d<\/p>\n
Media monopoly<\/p>\n
According to The Guardian report, the UK government is considering amendments that would allow foreign states to own up to 15% of British newspapers and magazines, raising concerns over media influence.<\/p>\n
STORY CONTINUES BELOW THIS AD<\/p>\n
Critics are already wary of the dominance of tech giants, with Google handling 93% of UK search traffic and, alongside Meta, accounting for three-fifths of all UK advertising spend.<\/p>\n
The Equality Trust report calls for limiting private political donations to \u00a35,000, curbing political appointments, promoting diverse ownership, and funding independent local media to counter the influence of a few major players.<\/p>\n
Research highlights the concentration of UK media: DMG Media, News UK, and Reach now control 90% of national newspaper circulation, up 20% since 2014. Local news is similarly consolidated, with Newsquest and National World owning 51% of the UK\u2019s 882 local newspapers and websites.<\/p>\n
The report warns that the opaque power of a few tech platforms and media conglomerates threatens independent journalism and digital rights.<\/p>\n
\u201cThe ultra-rich media owners are tightening their grip on democracy,” The Guardian quoted Prof Robert Reich, the co-founder of Inequality Media, as saying.<\/p>\n
\u201cBillionaire media owners like [Elon] Musk, [Jeff] Bezos, [Larry] Ellison and [Rupert] Murdoch are businessmen first and foremost,\u201d he said, adding, \u201cTheir highest goal is not to inform the public but to make money.”<\/p>\n
STORY CONTINUES BELOW THIS AD<\/p>\n
\u201cIn an era when wealth is concentrated in the hands of a few individuals who have bought up key media there is a growing danger that the public will not be getting the truth it needs to function in this democracy,\u201d said Reich.<\/p>\n
With inputs from agencies<\/p>\n