World Bank Seeks Collaboration to Tackle Inequality

The World Bank President, Jim Yong Kim has said boosting shared prosperity for the lowest 40 per cent of income earners in developing countries will improve the lives of all members of society.

“Our goal of boosting shared prosperity will be achieved by raising incomes, creating jobs, educating children and providing all with access to food, water and health care,” Kim said in a speech presented ahead of the IMF-World Bank Group Annual Meetings to students and faculty at Howard University on Wednesday.

“By doing so, we will grow our wealth and nurture our humanity.”

The president stressed the need to help low-income countries grow their economies.

In the last four years alone, high growth rates in China and India have meant that 233 million people no longer live in poverty.

But poorest people in these countries must

Bank of England governor Carney to address unions on wages

Bank of England governor Mark Carney will set out his plans for "real wages" when he addresses the annual conference of the Trades Union Congress on Tuesday.

Unions have complained that people's incomes are not rising quickly enough despite the upturn in the economy.

Mr Carney will discuss the role that fiscal policy can play in boosting the labour market.

It is the third time a Bank of England chairman has spoken at the conference.

The last appearance by a governor was in 2010 when Sir Mervyn King blamed financial firms and policy-makers for allowing the economic crisis, admitting: "We let it slip."

'In-work poverty'

Mr Carney's visit comes in very different circumstances, with the UK economy having grown by