Average UK worker would need to save 52 years of earnings to be wealthy
New research says that an average British worker should save his earnings for 52 years to move to the Summit of the Left Ladder.
According to the Solution Foundation, the average Brit would not be able to collect £ 1.3 million without any spending for £ 1.3 million.
Thinking Office Before falling Examining the scale and distribution of household reserves in the UK, the report said that the inequality between generations was “worsening” between 2006-08 and 2020-22 and that “reflecting the increasing importance of your parents rather than how much you worked for”.
Analysts using the data from the National Statistics Office of the Richness and Assets Survey continued to grow during the pandem of Britain’s reserve stock, while the 7.5 -fold GDP records, while the gaps of leaving between rich and poor families grew “sharply”.
Molly Brroome, a senior economist of the Solution Foundation, said that the spaces among the richest and the poorests of the country were “twice as much more için because of the low reserve mobility throughout the country.
“The spaces in the UK are so great that a typical full -time working full -time that saved all its earnings throughout their working lives would still not be able to reach the summit of the row of lengths.”
“These gaps are twice as much as the mobility of reserve in England – people who enrich life tend to be rich and vice versa.”
According to analysts, factors such as the existing reserve, age and location had a great impact on the rich British. His research showed that the reserve gap between the people in the early 30s and the people of the 60s increased more than two times between 2006-08 and 2020-22 (in terms of real cash) to £ 310,000.
Researchers have added 53 percent of the increase in household income since the beginning of the 2010s.
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It was found that those in the South East have an average of £ 290,000 – with a significant higher than the North East, £ 110,000.
Mrs. Brief blamed home prices and changes in the value of pensions for growth in the gaps of reserve, which has expanded the Gulf, and added that “individuals are rather than any active behavior, such as buying home or acquiring new assets”.
Some economists suggested that Rachel Reeves, Labour’s manifesto, promised not to raise the taxes, but suggested that the next budget could bring a reserve tax to make a hole of 50 billion pounds.
However, Mrs. Brief warned that the government’s future reserve taxes could fall to retirees or homeowners instead of being paid by the richest of the country.
“The rising reserve and the acute need for more income have provided a new speech of the reserve taxes in front of the budget next month,” he said.
“However, we must be honest with the property and pensions representing 80 percent of the increasing household rate, and with the pensions, rather than to be paid by the super -rich only to retirees, southern homeowners or their families.”
A HM Treasury Spokesman said: “The British income tax system is extremely progressive with the international level of high personal allowance.
“We also get rid of the non -host situation in the tax system and tax wealth, we put VAT in private school fees and increased the taxes on special jets.”
