Inequality 'significantly' curbs economic growth - OECD

Income inequality has a "statistically significant impact" on economic growth, according to research by the Organisation for Economic Co-operation and Development (OECD).

In the UK, rising inequality cost the economy almost nine percentage points of GDP growth between 1990 and 2010, the think tank said.

The US lost almost seven points.

The OECD also found that redistribution of wealth via taxes and benefits does not

OECD sees global growth stable, some slide in emerging markets

OECD sees slowing or stable growth in emerging economies flat in major developing economies with the exception of India while the outlook for most developed economies is stable and improving in the United States, the OECD said on Tuesday.

The Paris-based Organisation for Economic Cooperation and Development said its leading indicator covering 33 member countries was unchanged for the sixth month in a row at 100.6, above its long-term average of 100.

The indicator, designed to