May 28, 2022

Statistics from the Scottish Government show that the average wealth of the richest people in the country increased to 65 1,651,700 between 2018 and 2020, an increase of 32% since 2006-08.

In contrast, the average wealth for the poorest 10% was only £ 7,600 – a difference of 217 times.

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The number of the poorest people doubled from £ 3,500 in 2006-08, but fell from a peak of £ 8,100 in 2014-16.

JK Rowling, Anders Paulson and Sir Ian Wood are among the richest men in Scotland.

The absolute wealth gap between Scotland’s top 10% and the poorest 40% was 6 1,614,900, an increase of 32% from 2006-08.

Statistics from the Office for National Statistics (ONS) survey show that the average household wealth in Scotland is £ 214,000.

One in three said that if they lost their jobs, they would not have the savings they needed to stay above the poverty line.

This report is based on data from the Scottish Government.

Half of the lower 20% of earners in Scotland are considered financially weak, compared to only 8% of the top 20% earners.

About 46% of households that struggle to make ends meet a month after losing their income include one person with a disability – 8% more than in 2006-08.

Over the last 14 years, the number of households living with unsecured debt in Scotland has fallen from 6% to 4%.

Some 72% of households who reported struggling with debt were among the lowest earners at 40%, compared to only 3% of the highest earners.

The other lowest earners of 20% also added another 10% to those who reported having an unstructured level of debt.

The gap between the richest and the poorest in terms of property wealth also widened, with the bottom 10% reporting average property wealth of £ 18,000, compared to £ 500,000 in the top 10%.

The poorest people fell short of £ 23,200 in 2006-08, while their richest counterparts averaged more than 9 469,600.

The median pension wealth was generally even more unequal than the wealth, with the bottom 10% boasting only £ 1,700, and the top 10% reporting £ 617,300 in pensions – the poorest. 363 times more than the Scots.

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