UK Wealth Gap Widening

Resolution Foundation finds that half the nation’s wealth belongs to a tenth of adults as property ownership declines. 15% (7.3 million people) either own no assets at all, or are in debt.

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The study by the Resolution Foundation thinktank found that just a tenth of adults own around half of the nation’s wealth. The top 1% own 14% of the total. It warned that even this figure may be an underestimate because of the difficulties in calculating the assets of the super-rich.

By contrast, 15% of adults in Britain have either no share of the nation’s record £11.1 trillion of wealth, or have negative wealth. The study found that wealth is distributed far less evenly than earnings or household income.

“At £11.1tn and growing, Britain has a lot of wealth to share around. It’s vital that policy makers ensure that the key drivers of wealth in Britain today – property and pensions – are accessible to as many people as possible, young and old.”

This is yet more worrying evidence of our core believes that service employees should all get the living wage. Thus, every service we quote for will receive a ‘living wage option’ to put the ball firmly in the client’s court for how fair and ethical they want to be.

Together we can do our part to close the wealth gap.

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