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Britain now the only country in G7 where inequality has increased this century

The amount of UK wealth controlled by the richest 10% in the population increased to 54.1% this year, a rise from 51.5% in 2000, according to the annual Credit Suisse global wealth report.   Most of this rise has actually occurred since the financial crash since in 2007 their share of wealth was 52%.   They have become wealthier because financial assets such as shares have risen strongly in value as investors sought higher returns with interest rates at all-time lows.   Another factor was the pre-eminence of London with its soaring property prices and its position as the UK’s financial powerhouse unmatched by other European countries, including Germany.  As a consequence Britain now has 44 $ billionaires, a 5-fold increase in just 14 years from 2000 when there were only 8.   Similarly the number of people in Britain whose net worth (a market euphemism for often ill-gotten gains) is at least £30 million almost quadrupled to 4,660.   If the value of equity in houses is included, Britain now has 2 million $ millionaires.
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