Resolution Foundation research reveals a widening gap as middle and high-wealth households amassed savings and benefitted from rising house prices. “Middle-wealth families have experienced the biggest relative wealth increase of 9% (up £7,800, taking their average total wealth to £80,500 per adult), while the richest 10% of families have experienced the biggest absolute wealth increase of over £50,000 over the past year (taking their total wealth to £1.4million per adult),” says the Foundation. “In contrast, the poorest 30% of households have seen an average wealth increase of just £86 per adult over the course of the pandemic. “As a result, the rising wealth and widening wealth gaps that marked pre-pandemic Britain have been turbo-charged by the crisis. "The richest tenth have seen their wealth increase by more than five hundred times what the poorest third gained."

Source: Daily Mirror July 11, 2021 23:00 UTC