You won?t see too many of them driving a Rolls-Royce, wearing a monocle or smoking an enormous cigar. But one in ten UK householders is now close to achieving millionaire status ? on paper at least.
The thousands of UK homeowners are worth at least ?967.000 including savings, belongings, pensions and equity in their properties, latest figures show.
Together, these people own 44 per cent of all Britain?s personal wealth amounting to about ?4.5 trillion ? and more than 850 times richer than the least wealthy tenth.
UK Economy
?These figures show how far we are from a One Nation economy in which everybody has a stake and the rewards are fairly shared,? said shadow treasury minister Chris Leslie.
More than half of the combined wealth held by the top ten per cent is in private pensions, the Office for National Statistics figures show. It comes as chancellor George Osborne was expected to lower the amount of money people can put into a pension tax-free, in a bid to ensure the richest help to cut the deficit.
Playgrounds Of The UK Millionaires
One in seven households in the south-east and one in eight in London fall in the top tenth, compared with one in 14 in Scotland, with inflated property prices playing a part.
?Far from acting to to spread prosperity to every part of the country, Chancellor George Osborne looks set to press ahead with a ?3 billion tax cut next year for the every highest earners,? mr Leslie said.
Note: The article was originally written by written by John Higginson. I came across it on Metro newspaper of Tuesday, December 4, 2012 and I thought I would share with everyone.
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