Black Britain and Beyond publishes “Inequality Risk: The Black British Wealth Creation Report
To mark the opening day of its second annual symposium, Black Britain and Beyond will publish “Inequality Risk: The Black British Wealth Creation Report”:
From 12 p.m. to 3 p.m. on November 11, the report’s findings will be discussed live by a panel of experts, including 2022 Powerlist winner Jacky Wright, Trevor Williams, George the Poet, Tangy Morgan, Keith Levy, Gavin Lewis and Professor Mariana Mazzucato.
The report will be available for download on the Black Britain and Beyond website from November 11.
Over the past six months, a group of experts has been mobilized to analyze, research and formalize the concept of risk of economic inequality.
Specifically, the group examined the impact of continued economic inequality for the British black community and the broader implications for the British economy. By focusing on small and medium enterprises, it is
estimated that the UK could see a £ 25.2 billion increase in GDP if the wealth gap between black Britons is closed.
The report explores how to bridge this gap through themes such as access to opportunities and information, and reveals that a major obstacle to the development of black wealth is the current disparity in access to capital.
“Capital is the foundation for productivity, economic growth and innovation,” said Trevor Williams, former chief economist at Lloyds Bank Commercial Banking and visiting professor at the University of Derby. “Without the ability to invest in new ideas to make them come true and create new wealth and future income, the standard of living of those affected will inevitably drop. The inequality of wealth therefore unfairly penalizes those affected and the society of which they are a part is less enriched.
“Creating black British wealth is vital for everyone, both economically and morally,” said Reverend Professor Keith Magee, co-chair of Black Britain and Beyond, senior researcher at UCL and professor of justice social at Newcastle University.
“The volatile impact of the COVID-19 pandemic on the global economy has further underscored the importance of creating a resilient path to economic independence for all, especially black Britons. “
“What worries me the most are inequalities, both within and between countries. And that’s something the financial markets dismiss as a social issue, not really an economic or financial issue. And we risked seeing the issue of inequality gain momentum. says Mohamed El-Erian, Opinion Bloomberg columnist and president of Queens’ College.
This year’s symposium is presented by The Coca-Cola Company, Coca-Cola Europacific Partners and Costa Coffee and hosted by the University of Newcastle.
The event is designed to explore the evolving narrative for black Britons, and their allies, in their contribution to
beauty, business and wealth creation.
The four-day hybrid symposium (virtual and in-person) will also feature other world-renowned black Britons: Marcus Ryder MBE, Gina Yashere, Kwame Kwei-Armah OBE, Joseph Harker, Brenda Emmanus OBE and Shaka Hislop, with the Americans Cathy Hughes and Cheryl Mayberry McKissack and live performances by Deelee Dube, Josh Daniel, Ebony Rose Dark, The Voices of Virtue and DJ Munro.
For more information and updates on the event, including the session schedule, speakers and special guests, visit www.blackbritainbeyond.org.uk and follow @blackbritainbe (Twitter) and @blackbritainbeyond (IG) .