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19 June, 2017 00:00 00 AM
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UK wealth gap ‘widening over past decade’

BBC

The UK’s wealth gap has been widening over the past decade, a report says. 
Think tank the Resolution Foundation estimates 1per cent  of adults, some 488,000 people, own 14per cent  of the nation’s assets - worth about £11 trillion, reports BBC. 
At the other end of the financial scale, 15 per cent  (7.3 million people) either own no assets at all, or are in debt. 
The government has responded to the findings by insisting that income inequality is at its lowest level since the mid-1980s. 
The Resolution Foundation says it is non-partisan and was founded in 2005, with “the goal of improving living standards for the 15 million people in Britain on low and middle incomes”.
The foundation says the spreading of property wealth in the mid-1990s and mid-2000s fuelled a decade-long fall in wealth inequality - but that progress has since gone into reverse.
The proportion of property wealth owned by the bottom four-fifths of adults grew from 35per cent  in 1995 to 40per cent  in 2005.
However, the foundation warns “that with home ownership steadily falling since its mid-2000s peak, the proportion of property wealth owned by the bottom four-fifths of the population has started to fall again”.
“Given the hugely unequal distribution of wealth across Britain, it’s time we looked into how the nation’s wealth is divided up and what the consequences are for those who never build up assets of any significance,” said Conor D’Arcy, policy analyst at the Resolution Foundation.

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Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

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