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Wednesday, March 25, 2015

The Wealth Gap

The wealthiest 10% of households in Scotland owned 44% of all private wealth, the same percentage as for the rest of the UK. By contrast, the poorer half of Scottish households owned just 9% of all personal wealth. Three out of 10 poorer households have no savings or pensions.

Nearly half of the poorer households were headed by someone in employment. The less affluent households were more likely to be single adults and lone parents.

The study, published by the Scottish government, looked at wealth and assets over a six-year period from 2006. 83% of Scots thought the gap between those on high and low incomes was too large.

Between 2010 and 2012, a snapshot of the wealth and assets in Scotland report found that the least affluent 30% of households owned just 2% of all personal wealth, mainly property and personal belongings.

Between 2006 and 2012, before and after the economic downturn, found that 2% of households owned 17% of all personal wealth in Scotland.


Social Justice Secretary Alex Neil said: "It's not right that the wealthiest 10% of households have 20 times more wealth than the least wealthy 30%." 

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