Thursday, 1 February 2018

More British households become millionaires, official figures show

The number of British households that could consider themselves as millionaires rose by nearly a third in two years, official figures show.

A total of 3.6 million households in Britain held wealth of more than £1m by June 2016, up 29% in two years, the Office for National Statistics said.

Wealth includes pension savings, investments, belongings, and property values less any outstanding mortgage.

Campaigners argue that the figures expose wealth inequality.

The median wealth per British household, after borrowing is taken into account, was £259,400 by July 2016.
This was 15% higher compared with two years earlier, the official figures show. The figures do not account for the rising cost of living over that time.

BBC       News.

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