Growing gap between middle-income earners and top 1%
They might think they are comfortably well-off. But middle-income Britons are poorer relative to the super-wealthy than their counterparts anywhere else in Europe – a phenomenon largely blamed on the bumper pay packets of British bankers.
Oxford University research shows middle-earning households have an annual income of £26,000 – only slightly lower than France and Germany.
However, the gap between those in the middle and the super-wealthy in the UK is so vast, the typical Briton is much poorer in comparison. EU statistics on income and living conditions show that, in 2012, the top 1 per cent of households here had an annual income of £360,000 – 14 times more than the £26,000 of the middle-earners.
In France, those at the top had an income of £270,000 – about ten times more. The £180,000 of the top 1 per cent in Germany is just seven times higher.
Geographer Danny Dorling’s figures, published in the journal Applied Geography, relate to household incomes, rather than individuals.