In 2013, The Richest Fifth Of The U.s. Population Received About What Percent Of Total Money Income?

UK Income Inequality

The UK has a really high level of income inequality compared to other developed countries.

The majority of households in the UK suffer disposable incomes below the mean income (£34,200 as of 2022). This includes wages and cash benefits, and is after direct taxes wish income tax and council tax, but not indirect taxes like Ad valorem tax. The median income has been future away 2.2% on the average for the last five years. Most of this is accounted for by the resurrect in average income for the richest fifth, which has increased aside 4.7%. The poorest fifth, on the other hand, have seen a fall in income by 1.6%^[1].

In 2022, households in the bottom 20% of the universe had on the average an equivalised disposable income of £12,798, whilst the top 20% had £69,126. A nates Be seen from the graph below when original incomes are compared, the difference is even much striking: the richest twenty percent had an income more than 12 times the add up earned by the poorest fifth^[2].

Original, gross and disposable income by quintile radical for business enterprise year ending 2022. Households are graded by their equivalised disposable incomes, using the altered OECD weighing machine.

Differences Inside the Top 1%

The graphical record above does non show the fully extent of the difference between the richest and the catch one's breath of society. This is because the top 1% have incomes substaintally higher than the rest of those in the top 10%. Since 1980, the dea of income attained by the top 1% in the UK has generally been rising, peaking to 13% in 2022. This is almost double the corresponding figure for Belgium (7%) and still higher than Australia (9%), Sweden (8%) and Norge (8%), to name a couple of. For the whole world, the top 1% bring in 20% of the add together income.^[3]

How Income is Shared

The graph below shows how expendable income is shared amongst households. The poorest fifth of social club has just 8% of the total income, whereas the top one-fifth has 40%.

Disposable income share by quintile group for fiscal year ending 2022, ONS

The redistributive effect of taxes and benefits is felt most importantly in retired households, where disposable income inequality is lower than not-down households. Retired households' Gini for disposable income is 28.5%, whereas for non-retired households this figure is 32.8%.^[4] All but of the increase in retired households' income since end-1970s has to do with the seven-plica rise privately pension off income in this period.^[5]

U.K. Wealth Inequality

Wealth in Great Britain is even more unevenly shared than income. In 2022, the ONS premeditated that the richest 10% of households hold 44% of all wealthiness. The poorest 50%, by contrast, personal evenhanded 9%.^[6]More than that, for the UK as a whole, the WID saved that the top 0.1% had ploughshare of total wealthiness double between 1984 and 2022, reaching 9%.

The graphical record below shows how wealth dispersion has changed since the antepenultimate century for the summit 10%, who have consistenlty held the majority of wealth.

Wealthiness Spread Between Great Britain's Regions and Nations

Wealthiness is also unevenly distribute across Great Britain. The South East is the wealthiest of all regions with median household total wealth of £387,400, over double the amount of wealth in households in the North W (£165,200).

Aggregate household wealth past region for 2022-16, ONS: Wealth and Assets Follow, 2022

Wealth

The UK's wealth distribution is roughly average compared to the unusual OECD countries. The UK has a wealth GINI coefficient of 73.2%.

Riches Gini coefficient, World Social science Forum: The Inclusive Exploitation Index finger 2022

Over 50% of UK's adult universe has more than USD 97,169 wealth, as of 2018. With its 2.4 million dollar millionaires, the UK is home to more than 6% of all millionaires globally.^[7]

Income

Compared to other improved countries the UK has a same unequal distribution of income, with a Gini coefficient of 0.35. According to 2022 data from 19 OECD member states in the Luxembourg Income Study information set, the UK is the ordinal most unequal, and fourth most unequal in Europe.

Gini coeffient by country, 2017 or in vogue available, OECD