The rising value of property, private pensions and shares have helped the UK’s wealth to grow by 70% since 2010, with most of the gains going to the top 10% richest households.
Since 1979, household wealth adjusted for inflation has almost trebled, gaining £7tn.
TUC general secretary, Paul Nowak, said that by cutting services and “holding down wages in favour of a wealth boom for the rich, the Tories have created an economic ‘doom loop’”.
Analysis by the Institute for Fiscal Studies (IFS) and the Resolution Foundation shows income from work falling behind the gains from owning assets.
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