Friday, May 16, 2014

Two Britains - Rich and Poor

 Five billionaire families controlled the same wealth as 20% of the population (12 million people).

Britain's richest 1% have accumulated as much wealth as the poorest 55% of the population put together, according to the latest official analysis of who owns the nation's £9.5tn of property, pensions and financial assets.

 The top 10% laying claim to 44% of household wealth – while the poorest half of the country had only 9%.

Over a quarter of households had credit card debt.

Rachael Orr, Oxfam's head of poverty in the UK said the figures were a "shocking chapter in a tale of two Britains".

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