Wealth Inequality

Differences in wealth are even greater than those for income. For many of the poorest households, their debts outweigh their assets. London has a higher proportion of households at the bottom and at the top of the wealth distribution compared to the rest of Great Britain. The households in London that fall into the bottom half of the wealth distribution own just four per cent of the total household wealth in London. Households in the richest ten per cent, on the other hand, own more than 60 per cent of the total wealth.

As with income inequality, the picture is much more exaggerated in London than nationally. Across the rest of Great Britain, the poorest half own just under a tenth of the wealth, while the richest tenth own 40 per cent.