Lifetime of earnings not enough for UK workers to join wealthiest 10%, report says | Inequality

According to the new research of the Resolution Foundation, a 52 -year -old gain is required to be as rich as the richest 10 percent of the richest 10 percent of the average income in the UK.

In a new report, the effective thinking tank analyzes the latest reserve and asset survey covering the 2020-22 Kovid epidemic period of the National Statistics Office.

Before the global financial crisis, the authors found that the average full-time earnings of a 38-year-old full-time earnings needed to be in the top 10 in the distribution of a worker in 2006-08. By 2020-22, this difference expanded and became a 52-year-old gain.

Molly Broome, the senior economist of the Solution Foundation and the chief writer of the report, said: “The abyss of leaving in England is so great that a typical full -time working life that has accumulated all its earnings throughout his working life cannot reach the top of the leap staircase.”

The foundation determines that the difference between the wealth of an average person and the wealth of one of the 10 percent at the top of the wealth of 10 percent is £ 1 million in 2006-08, but as of 2020-22, it increased to 1.3 million pounds in real terms.

“Since the mobility of reserve in Britain is low in Britain, these gaps are twice as concern, people who start rich in life tend to be rich and vice versa.”

Despite the increase in the deficit of reserve, the think -tank, the United Kingdom, known as “relatively unauthorized inequality”, known as the richest households of the richest share of the “1980s since the 1980s,” he points out that it is generally stable “. During this time, the total wealth in the UK increased from three times the annual GDP to almost 7.5 times.

According to the report, the so -called “passive” gains through increasing house prices and changes in retirement values ​​have been the main factors of the expanding deficit since 2010.

The research shows that they tend to accumulate in older, property owners’ households and worsen the distinction between generations between generations.

The average difference of reserve between the beginning of the 30s and the people of the 60s increased by more than twice to two times to £ 310,000 in 2006-08.

In addition, the average richness level in 2020-22 is located in Southeast England, where property prices tend to increase rapidly when compared to £ 110,000 in the northeast.

During the epidemic, where millions of workers are protected by the permission plan supported by taxpayers and Kovid closed limited spending opportunities, the data shows that many households can save and increase their reserves.

However, the situation of high -income households is much better. In the report, “the liquid savings of a typical family in the lowest-income-five tranches increased only 80 £ 80 during the period (from 2019-20 to 2021-22). This is the same as two years before the sponge.