The gap between the richest and poorest in London
of London's wealth is owned by the richest 10% of its households. The bottom 50% own just over 5%.
greater is the income of someone just in the top 10% in London in comparison to someone just in the bottom 10%.
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%.
Income inequality across England
Income inequality over time
Income inequality and housing costs
Pay inequalities across England
Changes in pay inequality
From our Twitter
5% of new housing completions in Bromley were affordable in the three years up to 2015/16. This is far lower than the London average of 24%. pic.twitter.com/HJRPYMNWZs19 Jul 2018
58% of children in low-income families in London did not have a one-week holiday away from home with their family, because they could not afford it. https://www.trustforlondon.org.uk/data/children-and-material-deprivation/ …19 Jul 2018
Disadvantaged pupils in Bromley are 30 percentage points less likely to achieve a C or above in Maths and English than all other pupils. This is one of the largest GCSE attainment gaps in London. pic.twitter.com/5kaXv3NcRS18 Jul 2018
44% of part time jobs in London are low-paid. This figure rose significantly between 2010 and 2012, and has remained high since. https://www.trustforlondon.org.uk/data/low-paid-jobs-london-over-time/ …18 Jul 2018