Inequality stats

In 2014-15 the richest fifth of British earners received 45.5% of all UK income, and the richest tenth received 29%. The top 1% received around an eighth (12.7%) of gross income, and the top 0.1% – around 65,000 people – almost a twentieth (5%). Of course, given the recent revelations about offshore tax affairs revealed in the Panama Papers, it’s likely that this admitted income is considerably understated.

Between July 2012 and June 2014, the most wealthy 20% of households accounted for 62% of all private household wealth, whereas the top 20% of earners received 40% of the total disposable income (as adjusted for the size and composition of the household). As with income, much of the wealth of the richest few is likely to be hidden from view.