Is Britain experiencing its first 'lost decade' of economic growth since the 1860s? 

That's the warning from Bank of England governor Mark Carney, who was speaking at Liverpool John Moores University.

Carney called for the government to tackle 'staggering wealth inequalities' and warned that real wages are below their level from a decade earlier, due to price inflation and low earnings growth.

He explained that globalisation has resulted in a good economic environment for the superstar and lucky, with others struggling.

It's clear there is a huge amount of wealth inequality in the world and this problem is rising. The share of wealth held by the top 1% rose from a third in 2000 to half by 2010. 

In the UK, the top 1% tripled from 5% in the early 1980s to 15% in 2009.

Whether or not we are experiencing a lost decade of economic growth, and despite the challenges of rising wealth inequality, as individuals we have the opportunity to take control over our personal finances and improve our destiny.