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31 Dec, 2015

Richest 10 per cent in UK ‘own half the country’s wealth’ – The Independent

The richest 10 per cent of households in the UK own nearly half of the country’s total wealth, while poorest the half of households represent just nine per cent, new official statistics reveal. Findings from the Office for National Statistics (ONS) also reveal that wealth inequality is growing, with the richest tenth of society seeing their wealth grow 21 per cent since 2012, compared to just seven per cent growth for the poorer half. Experts said that rising property prices and a widening gap in the value of pensions between rich and poor were partly to blame for the gap, but also pointed to Government policies, including cuts to inheritance tax.

Read the rest: Inequality: Richest 10 per cent in UK ‘own half the country’s wealth’ | Home News | News | The Independent