According to a recent survey from the Office for National Statistics (ONS), the top 10% of households in the UK are now 850 times wealthier than the bottom 10%. A staggering figure!
But the biggest gap between the rich and the poor is not in property but in pensions. The ONS found that while the top 10% owned property averaging £340,000 in value, they had built up pension savings with an average of £742,000.
The bottom 50% of households had no net property wealth and just £4,000 in pension savings.
One of the major signifiers of wealth is the car’s number plate. The ONS found that while just one in 40 cars owned by the bottom half of households had a personalised number plate, among the rich it is one in seven.
Hopefully from these statistics we can work out how to stop the divide between rich and poor and not just highlight how much money people have, that also own a personalised number plate.
We will look forward to seeing the more figures from the ONS but in the meantime let us know what you think about these figures.
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AIMS Accountants for Business are the largest independent association of professionally qualified accountants in the UK specialising in accountancy for small, local and independent businesses. AIMS are no ordinary accountants and we are more than just number crunchers! Find your local AIMS Accountant.