Worryingly, while wealth inequality fell for much of the 20th century, it is now rising again, and is set to rise further. Between 2010-2012 and 2012-2014, over half of the increase in personal wealth went to the top 10 per cent of households. A political focus on income inequality alone has masked the true extent of inequality in the UK.
Underlying these concerns, the report’s key findings reveal stark inequalities of wealth and highlight the drivers causing them to rise.
This research shows that, if the UK is to build an economy where prosperity is underpinned by justice, we need better public understanding of the distribution of wealth and the drivers of inequality and a stronger commitment to redressing them. Without a change in policy direction, wealth inequality is expected to worsen, with acute and deepening divides in wealth between regions, generations, and households.
State of the North 2024: Charting the course for a decade of renewalThe North’s communities are ambitious for a better future, but face systemic and pronounced inequalities. Gaps in power, wealth, opportunity, and health result in shorter, sicker, less fulfilling lives.
No home left behind: Funding a just transition to clean heat in ScotlandHow can we ensure that investment in clean heating in Scottish homes drives a just transition, sharing costs and benefits fairly?
The asylum backlog: Job done?This blog post sets out how the department must now grapple with a new set of backlog challenges.