Wealth Inequality in the UK

In 2012, the top 1% had an average income of £253,927 and the top 0.1% had an average income of £919,882.

Inequality is much higher amongst original incomes than disposable incomes with the poorest 10% having on average an original income of £4,436 whilst the top 10% have an original income 24 times larger (£107,937).

Households in the bottom 10% of the population have on average a disposable (or net) income of £9,644 (this includes wages and cash benefits, and is after direct taxes like income tax and council tax, but not indirect taxes like VAT).

Wealth The UK’s wealth distribution is roughly average compared to the other OECD countries. Income Compared to other developed countries the UK has a very unequal distribution of income.

Income inequality is much starker at the top of the income scale, with the group with the 9th highest incomes making only 61% of the top 10%’s income. The Office for National Statistics said median disposable income for the poorest fifth of households had risen by £700, or 5.1%, in the year to April 2016, while the richest fifth of households saw their incomes fall by £1,000, or 1.9%, over the same period.
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 sources:http://topincomes.g-mond.parisschoolofeconomics.eu/ and graph: https://www.theguardian.com/uk/office-for-national-statistics-accessed 17/06/17

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