Richest 1% Has Greater Share of Wealth Than Half the UK Population

New statistics released today by the ONS highlight the huge scale of wealth inequality in the UK. Equality Trust analysis of these figures has found that the richest 1% of households has the same wealth as 54% of the population.

Duncan Exley, Director of the Equality Trust, said:

“The grotesque concentration of wealth in the hands of a tiny minority is fracturing our society, weakening our economy and giving disproportionate power to the richest. Unless policymakers adopt a clear goal of reducing the gap between the richest and the rest, they will have to govern an increasingly dysfunctional nation.”