In the 2022/23 financial year, various measures of inequality in the United Kingdom decreased when compared with 2021/22. The S80/20 ratio fell from 6.3 to 5.5, the P90/10 ratio from 4.5 to 4.2, and the Palma ratio between 1.5 and 1.3.

In 2023, the United Kingdom's Gini coefficient score was 33.1, a slight decrease when compared with the previous year. The Gini coefficient is a measurement of inequality within economies, a lower score indicates more equality while a higher score implies more inequality.

The overall wealth of households in the United Kingdom was 13.5 trillion British pounds in the period between 2020 and 2022. Of this overall wealth, the top ten percent of households had over 5.5 trillion pounds of wealth, compared with 13.9 billion owned by the lowest wealth decile.

An average of 79% of Bangladeshi households were in the 2 lowest income quintiles (after housing costs were deducted) between April 2019 and March 2022

At the turn of the twentieth century, the wealthiest one percent of people in the United Kingdom controlled 71 percent of net personal wealth, while the top ten percent controlled 93 percent. The share of wealth controlled by the rich in the United Kingdom fell throughout the twentieth century, and by 1990 the richest one percent controlled 16 percent of wealth, and the richest ten percent just over half of it.

Average UK household incomes taxes and benefits by household type, tenure status, household characteristics and long-term trends in income inequality.

In 2022/23, the top quintile of earners in the United Kingdom had an average household disposable income of approximately ****** British pounds, compared with ****** for the bottom quintile.

Three datasets, all carried out by YouGov and the WEALTHPOL team, are included. The first was conducted in Summer 2021, the second in Summer 2022, and the third in October 2022. CSVs, codebooks, and data construction files are included (note the latter include references to other files but show the coding).

Households in the lower income quantiles in England in 2024 were more likely to own a household outright than to be currently buying with a mortgage. As the weekly gross income of a household goes up, so does the likelihood that it occupies a home purchased with a mortgage. Of households in the first quantile (lowest income), 4.1 percent were buying with a mortgage, compared to 39.3 percent in the fifth quantile (highest income).

In 2022 the top one percent of earners in the United Kingdom accounted for around 10.2 percent of the overall national income of the UK. The share of national income earned by the top one percent increased from 6.8 percent in 1980 to a peak of 14.8 percent in 2007.

Between 2018 and 2022, people in households in the ‘other’, Asian and black ethnic groups were the most likely to be in persistent low income, both before and after housing costs, out of all ethnic groups.

About this dataset

Context

The dataset presents the mean household income for each of the five quintiles in New Britain, CT, as reported by the U.S. Census Bureau. The dataset highlights the variation in mean household income across quintiles, offering valuable insights into income distribution and inequality.

Key observations

• Income disparities: The mean income of the lowest quintile (20% of households with the lowest income) is 12,578, while the mean income for the highest quintile (20% of households with the highest income) is 181,011. This indicates that the top earners earn 14 times compared to the lowest earners.
• *Top 5%: * The mean household income for the wealthiest population (top 5%) is 276,325, which is 152.66% higher compared to the highest quintile, and 2196.89% higher compared to the lowest quintile.

Content

When available, the data consists of estimates from the U.S. Census Bureau American Community Survey (ACS) 2019-2023 5-Year Estimates.

Income Levels:

• Lowest Quintile
• Second Quintile
• Third Quintile
• Fourth Quintile
• Highest Quintile
• Top 5 Percent

Variables / Data Columns

• Income Level: This column showcases the income levels (As mentioned above).
• Mean Household Income: Mean household income, in 2023 inflation-adjusted dollars for the specific income level.

Good to know

Margin of Error

Data in the dataset are based on the estimates and are subject to sampling variability and thus a margin of error. Neilsberg Research recommends using caution when presening these estimates in your research.

Custom data

If you do need custom data for any of your research project, report or presentation, you can contact our research staff at research@neilsberg.com for a feasibility of a custom tabulation on a fee-for-service basis.

Inspiration

Neilsberg Research Team curates, analyze and publishes demographics and economic data from a variety of public and proprietary sources, each of which often includes multiple surveys and programs. The large majority of Neilsberg Research aggregated datasets and insights is made available for free download at https://www.neilsberg.com/research/.

Recommended for further research

This dataset is a part of the main dataset for New Britain median household income. You can refer the same here

Supplementary files for article Long-term relatedness and income distribution: understanding the deep roots of inequalityThis article explores the role of long-term relatedness between countries, captured by an index of genetic distance, in driving worldwide differences in income inequality. The main hypothesis is that genetic distance gives rise to barriers to the international diffusion of redistributive policies and measures, and institutions, leading to greater income disparities. Using cross-country data, I consistently find that countries that are genetically distant to Denmark—the world frontier of egalitarian income distribution—tend to suffer from higher inequality, ceteris paribus. I also demonstrate that genetic distance is associated with greater bilateral differences in income inequality between countries. Employing data from the European Social Survey, I document that second-generation Europeans descending from countries with greater genetic distance to Denmark are less likely to exhibit positive attitudes towards equality. Further evidence suggests that effective fiscal redistribution is a key mechanism through which genetic distance to Denmark transmits to greater income inequality.

Provisional estimates of income and inequality measures for financial year ending 2018, alongside historical data.

Dataset of long-run data on wealth inequality drawn from existing sources and compiled into a single country-year dataset.

Provides early or provisional estimates of median equivalised disposable income and measures of income inequality ahead of revised estimates from the effects of taxes and benefits on household income.