Inequality
The gap between the richest and poorest in London
Key findings
50%
of London's wealth is owned by the richest 10% of its households. The bottom 50% own just over 5%.
8x
greater is the income of someone just in the top 10% in London in comparison to someone just in the bottom 10%.
Overview
Inequality explains the incongruence between two pictures of London: one of the booming centre of global finance and home to many of the world’s rich, and the other of a city with high levels of poverty and deprivation.
Income inequality is significantly greater in London than elsewhere in England. In the three years to 2015/2016, the income of someone just inside the top 10% was eight times higher than someone just inside the bottom 10% of earners, and the top 10% earned more than the bottom 50%. However, the lowest 10% of earners have seen their wages increase since 2011, while median earners and the top 10% have experienced declines.
Wealth inequality is far wider than income inequality in London. 50% of London’s wealth is earned by the richest 10% of its households, while the bottom 50% own just over 5%. And someone just inside the top 10% in terms of wealth owns 295 times more than someone just inside the bottom 10%. This trend is becoming more extreme in London, with the least wealthy 10% of people losing 32% of their wealth over the last two years, compared to a 2% drop across Great Britain. Meanwhile, the wealth of the top 10% in London has increased by 25%.
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From our Twitter
@povertylondon
This interactive table compares Poverty Child Poverty Inequality Homelessness Temporary Accommodation Evictions Affordability Unemployment Low Pay Benefits Council Tax Support GCSE attainment Infant Mortality Premature Mortality in each London borough. https://www.trustforlondon.org.uk/data/boroughs/overview-of-london-boroughs/ … pic.twitter.com/EuJJzZz4Tf
23 Aug 2018Interested in using your organisation’s quantitative expertise to help us deliver our pioneering London Poverty Profile? Applications to tender are open until Monday 18 February http://bit.ly/2M6KO1C
15 Jan 2019Want to work with us to deliver fresh insights into poverty and inequality in London? We’re inviting applications to tender for our London Poverty Profile. Find out more here http://bit.ly/2M6KO1C
14 Jan 201922% of Hillingdon residents are living in poverty. This is 5 percentage points lower than the London average. pic.twitter.com/7v1lQ6P3KJ
31 Dec 2018London’s Poverty Profile has borough by borough data about social issues in the capital. Want to know which boroughs have completed the most affordable housing? Have the highest rate of infant mortality? Have the highest rates of poverty? Find out here: https://www.trustforlondon.org.uk/data/
30 Dec 2018