5 richest families in UK worth more than the poorest 20%

[Ste]

The combined wealth of the UK's top five billionaires and their families is more than £28.1 billion, an Oxfam report says

The country's five richest families are wealthier than the poorest 20 per cent of the population, a leading charity has revealed.

A report by Oxfam showed that, at £28.2 billion, the combined wealth of the top five billionaires and their families is more than the £28.1 billion of the 12.6 million people who are society's poorest.

Titled A Tale Of Two Britains, the report shows that 0.1 per cent of the population have seen their income grow by £24,000 a year, while the incomes of the poorest 90% of Britons have gone up by an average of £2.82 a week, or £147 a year.

Britain's richest family, the Grosvenors, headed by the Duke of Westminster, has a fortune of around £7.9 billion, which is more than the bottom 10 per cent of the population combined.

The Grosvenors' wealth derives largely from owning 190 acres of real estate in London's Belgravia, near Buckingham Palace, according to the Forbes rich list.

Widening inequality creates a "vicious circle where wealth and power are increasingly concentrated in the hands of a few, leaving the rest behind," says the report.

"The extreme levels of wealth inequality occurring in Britain today threaten to exclude the poorest, whose standards of living are being squeezed as they are hit by increasing costs for basics like food and energy bills and cuts to services and support when they are most needed," it says.

The top five richest families also include David and Simon Reuben, whose £6.9 billion fortune comes from metals and property, and the Hinduja brothers, whose trucking and banking businesses have netted them £6 billion.

The Cadogan family is worth around £4 billion from owning property and land in Chelsea and Knightsbridge in London and Cadogan Estates, while the fifth richest person is Newcastle United FC owner and Sports Direct clothing chain boss Mike Ashley, whose fortune is valued at £3.3 billion.

[DiscoBiscuit]

Culling the aristocracy would be a start.

[doggone]

I don't find it the least surprising that the poorest 20% combined aren't worth billions?

I wonder why Oxfam feel the need to highlight this.
Have they been taken over by anti-capitalist?

These families have wealth in property, not huge bank balances - and have to some extent simply been lucky.
They are big spenders, and help drive the economy.
They are the ones investing in business and providing capital for re-investments.

This means more competitive UKplc and better paid more secure jobs for more of us.

[fatpies]

I don't have a problem with wealth gaps.

As long as it is wealth production, rather than rent seeking.


Wealth production and creation is good as it expands the pie.

Rent seeking is bad as the pie stays the same size it is just diverted to certain parties.

[Benno]

lol just work hard lazy poor people there's enough money for everyone

https://l.yimg.com/bt/api/res/1.2/PIU1hhJ1oldm0TqMzel4fg--/YXBwaWQ9eW5ld3M7Y2g9MzU0O2NyPTE7Y3c9NjMwO2R4PTA7ZHk9MDtmaT11bGNyb3A7aD0zNTQ7cT04NTt3PTYzMA--/https://d.yimg.com/hd/ch7news/7_wa_news/7_wa_top/0905_1800_wa_rinehart_lrg_184ebbp-184ebbq.jpg?a=ch7news&c=7ff396e1259f62e7d91906fdfc6a7eef&mr=0&s=6d6a6ea5b3c36a77d2083f526efe75bf
____________________
I'm autistic. That means I'm smarter than you.

[slowlydoesit]

[fatpies]

[slowlydoesit]

[N cee thirty]

Meh, how many families are said millionaires supporting via working for them and paying tax compared to poorer people?
____________________
'00 Aprilia RS50 > '92 Honda CG > '99 Yamaha Fazer > '91 Yamaha RXS > '79 Suzuki X5 > 01' Honda Cg > 07' Honda Cg > 82' Kawasaki Z200 > suzuki gsxr 400 gk73a > honda vfr 400 NC30 Mod 2 Passed 09/06/2011

Jewlio Iglesias wrote: I actually did vote BNP once

[Rogerborg]

This again?

Take all the numbers from the bank accounts of those 5 families.

Distribute it among the poor.

Hurrah, everyone has slightly more numbers. And everything costs slightly more, to the exact same degree.
____________________
Biking is 1/20th as dangerous as horse riding.
GONE: HN125-8, LF-250B, GPz 305, GPZ 500S, Burgman 400 // RIDING: F650GS (800 twin), Royal Enfield Bullet Electra 500 AVL, Ninja 250R because racebike

[doggone]

[fatpies]

[mogstar]

https://society.theguardian.com/salarysurvey/table/0,12406,1042677,00.html

The charity chief execs are not going hungry either...

[daemonoid]

Wait...

I'm confused? Don't we all hate the poor because they're all money grabbing doleys? Or worse still immigrant doleys?

As always this misses the point - don't hate the rich or the poor. We would all do broadly similar to what the Grosvenors do given half the chance. Instead, the problem comes from the game we are playing... If you want equality then change the system... maybe get rid of inheritance, or maybe reset credit histories and bank accounts (fight club style or otherwise), perhaps we could get rid of ownership - property laws based purely on usage?

People will always do the best for themselves, change the rules of the game if you want it played differently.
____________________
current: ducati monster 750
past: hyosung gt250r, bajaj pulsar 180, hyosung gt 125 comet
@thomasgarrard | www.straitjkt.com | www.racingseven.com

[smegballs]

[dydey90]

Ok, let's slaughter the rich people and distribute their wealth equally among Her Majesty's subjects. It equates to £445.99 each.

Will that make a huge impact on anybody's life?
____________________
This post is probably not serious and shouldn't be taken literally.
Past: CBR125,ER6f NINJA 650, ZZR600 Current: VFR750

[Benno]

[daemonoid]

[Ribenapigeon]

Why dont the poverty denyers just be upfront and say it "the poor are genetically inferior and should all be put on cattle trucks to a campo smewhere then a permenent solution found for them"

[daemonoid]

[John933]

Must be one of the drafter's statement's made this year.

The chances are that the lower 20% have more debt than money. There for, if you have a pound in your pocket. There is a good chance that you are richer than all of the lower 20% in this country. In fact you could say the whole world.
John933
____________________
My trip

[daemonoid]

[smegballs]

I'm most definately poor, but I feel like I am living in a land of opportunity/golden age:

Food costs as a proportion of income are probably the lowest they have ever been ever.
I can (bar stuff like flying) for relativelty little expenditure (sub £200 quid) get the gear to try a new sport/activity on my doorstep.
For less than a hundred quid I can board a giant flying machine that costs millions of pounds and get a travel thousands of miles.
For my electronics hobby, components are so cheap it is laughable. I buy resistor packs from china that work out to about 0.1p per item.
I have access to the biggest repository of information in human knowledge which I can use to teach myself almost anything from crochet to rocket science.
For a relatively tiny amount of money, I can buy electronic items to access said resource.

Most poor people I know, and lots of my mates fall into this category, have themselves to blame for their lack of opportunities/fun. So many people I know complain about being "skint", yet seem to have a pint in their hand, iphone/galaxy in their pocket. If you spend it in the right places, you can have a shit load of fun on barely any cash.

Not to mention young, healthy people sitting on the dole and complaining how shit it is (again lots of mates in this category). Considering there are places all over the world that are willing to exchange work for food/accomodation + perks (sometimes). I can't see why anyone stays. If your going to be poor either way, do what I do and go be poor in a hot sunny country, whilst learning a skill/language at the same time. My plan for is sept/oct is to work in a portuguese surf resort (food, accomodation and free use of their gear), sure I won't be making any money, but I get to meet loads of new people and live on the beach surfing for two months for free.

[daemonoid]

[smegballs]