Tue. Sep 29th, 2020

Pound hits 31-month high against the euro on Tory win predictions – business live

Rolling coverage of the latest economic and financial news

12.01pm GMT

The ONS’s wealth report also shows clearly that wealth inequality has risen in Britain over the last decade.

The UK’s Gini coefficient for total wealth, a widely-used measure, has risen from 61% in 2008 to 63%. That means wealth is distributed more unequally than before the financial crisis.

Some households may be in net financial debt (their debts exceed their assets), many will have relatively modest amounts in savings accounts, while others have many millions in financial investments.

11.49am GMT

It’s official: The wealthiest people in the UK are getting even wealthier.

New figures from the Office for National Statistics show that UK households grew their combined wealth by 13% between April 2016 and March 2018 (the most recent data).

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