a post by George Bangham for the Resolution Foundation blog
Britain is in the middle of a decades-long wealth boom. Total wealth now stands at a record £12.8tn, or almost 13 million millions. But where you live, and when you were born plays a big part in how much of that wealth you are likely to own.
In the 1960s and 1970s, Britain’s collective wealth – the value of our property, pensions and savings – was about three times as big as the UK economy’s national output, or GDP. But since the 1980s, as wealth has boomed, it has surged to close to seven times the size of annual GDP. This growth continued even through the 2007-8 financial crises.
Continue reading – there are several very useful charts which show much more clearly than words (at least for me they do) what this is all about.
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