Throughout the paper, more equity is to be interpreted as less inequality in income distribution and does not imply any judgement about the intrinsic value of a more equal distribution. In this paper, inequality is examined from a static perspective. While ultimately a comprehensive assessment would need covering inequality in life-cycle perspective as well as dynamic inequality, hence intra-generational mobility as well as inter-generational mobility, such analysis is beyond the scope of this study, not least reflecting major data limitations.