Economic boom plus simultaneous record levels of poverty

We are told that this country is experiencing an economic boom. Consumer spending is at an all-time high, company directors award themselves massive pay increases, and an ever-increasing number of foreign workers are required to service our expanding economy. Yet at the same time, local services are being cut back, up and down the land: public library opening hours are reduced, rubbish collection becomes fortnightly (encouraging vermin), and park keepers are laid off (encouraging a different sort of vermin).

Where does all this wealth go? To whom?