There are 59 million people in Britain. For the first time in over twenty years official government statistics examining the wealth differential between social classes, were published in The Guardian on May 11.
The report shows the distribution of wealth - as opposed to income - has altered little in the past 20 years. In 1996 over half the total wealth was owned by 10% of the population. In the same year the wealthiest 50% owned almost all the wealth -93%. In 1997-98 about 30% of households said they had no savings, and over half had savings of less than £1,500.
Only 14% of households had savings of more than £20,000. In 1976 the death rate for babies born to families of “unskilled” workers was more than twice that for babies born to those with “professional” jobs.
By 1997 the infant mortality rate for children of unskilled workers had fallen to just under twice that of the professional groups.
So half of the populations households have savings of less than £1,500 and the mortality rate for working class babies has advanced from just over, to just under, twice that of the offspring of those in professional jobs. Oh Yeah. ‘We’re all middle class-now’.
The report shows the distribution of wealth - as opposed to income - has altered little in the past 20 years. In 1996 over half the total wealth was owned by 10% of the population. In the same year the wealthiest 50% owned almost all the wealth -93%. In 1997-98 about 30% of households said they had no savings, and over half had savings of less than £1,500.
Only 14% of households had savings of more than £20,000. In 1976 the death rate for babies born to families of “unskilled” workers was more than twice that for babies born to those with “professional” jobs.
By 1997 the infant mortality rate for children of unskilled workers had fallen to just under twice that of the professional groups.
So half of the populations households have savings of less than £1,500 and the mortality rate for working class babies has advanced from just over, to just under, twice that of the offspring of those in professional jobs. Oh Yeah. ‘We’re all middle class-now’.
Reproduced from RA vol 4, Issue 7, June/July '00
