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UK wealth gap 'widening over past decade' says report

UK wealth gap 'widening over past decade' says report

Business
The UK's wealth gap has been widening over the past decade, a report says. Think tank the Resolution Foundation estimates 1% of adults, some 488,000 people, own 14% of the nation's assets - worth about £11 trillion. At the other end of the financial scale, 15% (7.3 million people) either own no assets at all, or are in debt. The government has responded to the findings by insisting that income inequality is at its lowest level since the mid-1980s. The Resolution Foundation says it is non-partisan and was founded in 2005, with "the goal of improving living standards for the 15 million people in Britain on low and middle incomes".'Wealth gap'The foundation says the spreading of property wealth in the mid-1990s and mid-2000s fuelled a decade-long fall in wealth inequality - but that progress...