Who on earth would trust the Tories?

The Tory party reaction to the Cambridge Analytica scandal is every bit as cynical and opportunistic as you’d expect.

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Owen Jones: Labour must be bolder – only a wealth tax can defeat inequality | Owen Jones

Wealth is soaring as a percentage of the British economy yet we raise a tiny proportion of our tax from it. We need ambitious reform

The injustice of Britain’s wealth inequality is matched only by the lack of ambition in tackling it. According to the Commission on Economic Justice, which was set up by the IPPR thinktank, the wealthiest 10% of households own 45% of the nation’s collectively created wealth. For the bottom half, the figure is a paltry 9%. The richest 1,000 individuals can boast a combined fortune greater than the wealth of the poorest 40%, and in 2016 their wealth jumped by £82.5bn – which, as the Equality Trust points out, is the equivalent of £2,615 per second. Only an economy as dysfunctional and rotten as our own can produce insecurity and stagnation for the majority but boom-time for so few.

Related: Scrap ‘highly regressive’ council tax, says thinktank

One of the many tragedies of Thatcherism was the shameful waste of North Sea oil revenues

Related: Seven in 10 UK workers are ‘chronically broke’, study finds

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