Tuesday, May 12, 2015

Ireland's Inequality

More than half of Ireland’s net household wealth rests in the hands of just 10% of the population, while people in less well-off sectors of society owe more than they own. 

The top 10% of the country’s richest households own 53.8% of net wealth — defined as real and financial assets minus debt.
The top 5% of households can lay claim to almost 38% of net wealth
 While 15% of the wealth lies in the pockets of the richest 1%.

At the opposite end of the scale, the poorest 20% of households owe more than they own.

The Central Bank points to a higher level of wealth inequality in Ireland than the euro-zone average. In 1987 figures showed that the top 10% of the population then owned 42% of net household wealth as opposed to 53% in current times. The top 1% then owned 10% of net wealth.