The Institute for Public Policy Research (IPPR) ranks the UK as the fifth most unequal country in Europe.
More than a fifth of the population live on incomes below the poverty line after housing costs are taken into account, even though most of these households are in work.
Nearly one in three children live in poverty and the use of food banks is rising.
There is a sixfold difference between the income of the top 20% of households and those of the bottom 20%.
Wealth inequality is much worse, with 44% of the UK’s wealth owned by just 10% of the population, five times the total wealth held by the poorest half.
The north-east is the poorest region in terms of aggregate total wealth, holding just £370bn, versus £2.5tn in the south-east, which is the wealthiest.
Millennials, or people born after 1981, are four more times likely to be renting, and only half as likely as baby boomers to own their own home by the age of 30.
The Gini co-efficient, which gives a score ranging from zero to one according to how riches are divided across the country, shows wealth inequality has remained broadly the same in the past decade, at 0.62. A score of 1 would mean a single person earned a country’s entire income.
A fifth of all employees remain on low pay, the majority of whom are women.
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