I recall wandering into our local WH Smiths to buy a packet of Polo mints for 4 pence in 1978 – a treat accessible to almost anyone. Fast forward to 2025, and the same packet costs around £1.75. While this might seem trivial, the story of Polo mints highlights a much deeper issue: the widening gap between incomes, the cost of living, and wealth inequality in the UK.

In 1978, the mean salary was £7,600 per year. At 4 pence per packet, it took less than 1 minute of work for the average worker to afford a pack of Polo mints. By 2025, with the mean salary rising to £37,430 annually, it now takes over 5 minutes of work to buy the same packet. This shift underscores how inflation and stagnating wages disproportionately impact low- and middle-income families. 

Why Have Polo Mints Become So Expensive?

Despite advancements in manufacturing efficiency, the price of everyday items has risen sharply due to inflation, rising raw material costs, and supply chain challenges. For low-income families, these price increases make essentials less affordable, compounding financial stress.

 The Bigger Picture: Inequality in Action

The rising cost of Polo mints is symbolic of broader economic challenges:

  1. Stagnant Wage Growth: Real wages for most workers have not kept up with the cost of living, leaving less room for savings or discretionary spending.
  2. Regressive Inflation Impact: Inflation hits everyday items harder, disproportionately affecting those on lower incomes while luxury goods remain relatively stable.
  3. Wealth Concentration: The wealthiest 10% of households own nearly half of the country’s wealth, while the bottom 50% struggle to afford basic necessities. This imbalance limits social mobility and economic growth.
  4. Unfair Property Taxation: In 1978, the mean household paid £70 annually in local Rates, equivalent to 2 days of work. By 2024, the mean Council Tax bill had risen to £1,966, requiring 14 days of work. This regressive system burdens those in lower-value properties while wealthier homeowners pay a lower effective tax rate.

 A Solution: Proportional Property Tax (PPT)

Fairer Share’s proposed Proportional Property Tax (PPT) offers a solution to these inequities. PPT would replace Council Tax and Stamp Duty with a system based on up-to-date property values. Key benefits include:

  • Lower Bills for Millions: 76% of households would see a reduction in property tax bills, saving families an average of £550 annually.
  • Fairness for All: Taxing properties proportionally ensures wealthier homeowners pay their fair share, reducing the burden on lower-value properties.
  • Boosting Mobility: Abolishing Stamp Duty would make it easier for people to move, supporting economic flexibility.

While PPT will not make Polo mints any cheaper, it would leave more money in the pockets of low- and middle-income families, enabling them to enjoy small pleasures while easing financial pressure.

 The Social Consequences

Rising costs of everyday items, coupled with stagnant wages and regressive taxes, create a toxic cycle for low- and middle-income families. Over time, these micro-sacrifices erode quality of life and deepen economic divides. Meanwhile, the wealthiest continue to benefit from policies that favour asset accumulation, fostering resentment and social discontent.

 What Can Be Done?

Addressing these challenges requires bold action:

  1. Fairer Tax Policies: Implement progressive reforms like PPT to ease the burden on ordinary families.
  2. Targeted Inflation Support: Control the cost of essentials to protect vulnerable households.
  3. Wealth Redistribution: Introduce fairer taxes on unearned income and inheritance to reduce inequality.
  4. Strengthening Wages: Ensure earnings keep pace with living costs.

 The Time for Change Is Now

The story of Polo mints is a vivid reminder that while economic growth has advanced, its benefits have not been shared equitably. By adopting solutions like the Proportional Property Tax, the UK can take a significant step toward reducing inequality and supporting families. Now is the time to act, ensuring that everyone can enjoy the small but meaningful pleasures in life.

By Andrew Dixon OBE, Chairman of Fairer Share