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Wealth and Assets in Scotland, 2006-2014

Wealth and Assets in Scotland, 2006-2014

Tuesday, February 14, 2017

ISBN: 9781786527837

This report presents analysis of the ownership of wealth by private households in Scotland from the Wealth and Assets Survey 2006 – 2014, with a focus on wave 4 of the survey covering the period July 2012 – June 2014. This report updates the Wealth and Assets in Scotland 2006-2012, which was published in March 2015.

Executive Summary

The value of total wealth owned by private households in Scotland increased by 22% in 2012/14 to £865.6 billion. The increase in wealth was the largest since 2006/08, with increases in all wealth components compared to 2010/12.

Scotland - like the rest of Great Britain - faces stark inequalities in wealth, with the wealthiest 10 per cent owning 43% of all private wealth, 67% of financial wealth, 54% of pension wealth, and 43% of all property wealth. The wealthiest 1% alone owned more wealth than the bottom 50%.

In comparison, the least wealthy 30 per cent of the population owned less than 2% of all private wealth – including very little or no financial wealth, pension wealth, or property wealth.

Inequality in wealth ownership in Scotland increased in 2012/14: the situation of the bottom 40% of households worsened against the top 10%. The wealthiest 10% of households owned 9.4 times the net household wealth of the bottom 40% in 2012/14, compared with 8.8 times in 2010/12.