Wealth inequality in the UK is worse than we thought (£800bn missing)
Almost a quarter of UK household wealth is owned by just 1% of the population. That’s according to new analysis which suggests we have historically underestimated the significant levels of inequality in this country.
According to the research, the top 1% hold nearly £800 billion more wealth than disclosed by official statistics. This means that inequality levels in the UK are likely to be much higher than previously thought.
In fact, the researchers say that the extra £800 billion in wealth is only a conservative estimate and it could be much, much more.
In this video, I’m looking at the research from the Resolution Foundation think tank, and considering what it means for high and rising levels of wealth inequality in the UK. Is it really such a bad thing that the top 1% own so much?
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Martin Bamford is a Chartered Financial Planner, Fellow of the Personal Finance Society and Director of Client Education at Informed Choice.
He’s author of three bestselling personal finance books:
The Money Tree: https://amzn.to/2HE1Pm9
Brilliant Investing: https://amzn.to/34xIdZJ
How to Retire 10 Years Early: https://amzn.to/2HEtxPq
Martin is a co-author of Harriman’s New Book of Investing Rules: https://amzn.to/3oz6KFJ
Martin is responsible for investment management research at Informed Choice and is our media spokesman. He is the host of the popular Informed Choice Radio podcast: https://icradio.co.uk/
Listen on Apple Podcasts: https://itunes.apple.com/gb/podcast/the-informed-choice-podcast/id941872073?mt=2&ls=1
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