Wealth gap ‘widest in 40 years’

July 17, 2007

The gap between rich and poor in the UK is as wide as it has been for forty years, the Joseph Rowntree Foundation (JRF) has said in a report.

The JRF found that households in already wealthy areas had become “disproportionately” richer compared to society as a whole.

But the number of “poor” households has risen over the past 15 years.

Since the 1980s, wealthier people have moved to the suburbs while the poor remain in inner cities, the JRF added.

Looking at wealth patterns over the past four decades, the JRF found that the gap between rich and poor actually narrowed in the 1970s.

But during the 1980s and 1990s inequality had increased as a “polarisation” in British society had occurred.

BBC NEWS | Business | Your Money | Wealth gap ‘widest in 40 years’