Wealth gap widens across the United Kingdom, leaving average workers unable to match the riches of the top 10%. New research shows it would take a lifetime of earnings—52 years’ worth—for a typical worker to reach the wealth of Britain’s richest tenth.
The findings come from the Resolution Foundation. They analyzed data from the Office for National Statistics’ latest wealth and assets survey. The report covers the period between 2020 and 2022, capturing the economic effects of the Covid pandemic.
Therefore, in 2006–08, it would have taken an average worker 38 years of full-time earnings to reach the same wealth level. By 2020–22, that figure had stretched to 52 years. This shows how sharply inequality has deepened over the past decade.
Moreover, Molly Broome, senior economist at the Resolution Foundation, said the situation has become alarming. She explained that even saving every pound earned throughout a career would not lift most workers into the top wealth bracket.
The gap between the average household and the wealthiest 10% grew from £1 million in 2006–08 to £1.3 million by 2020–22. Broome noted that wealth mobility remains very low. This means those born into wealth tend to stay wealthy.
Although the overall share of wealth held by the richest households has remained broadly stable since the 1980s, total national wealth has ballooned. It has risen from three times the UK’s annual GDP to almost 7.5 times, according to the report.
The think tank pointed to rising house prices and pension values as key drivers of inequality. These passive gains primarily benefited older, property-owning households, deepening the intergenerational divide.
Regional differences added to the imbalance. The average household wealth in south-east England reached £290,000, while the north-east averaged just £110,000. Property values continue to play a major role in this divide.
The pandemic temporarily boosted savings across all income levels. However, the highest earners benefited far more. Low-income families saved an average of only £80 during the pandemic period, compared with £4,200 for high-income households.
Experts warn that unless policy changes address structural inequality, the wealth gap widens further each year. For millions of UK workers, economic progress appears out of reach, even after a lifetime of hard work.
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