The richest households got richer last year, while everyone else got poorer

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Commenting on figures published today (Thursday) by the Office for National Statistics (ONS), which shows that household disposable income increased for the richest fifth of households but fell for everyone else, TUC General Secretary Frances O’Grady said:

“The gap between rich and poor is growing again after a brief post-crash pause. Last year the richest households got richer, while everyone else got poorer.

“This is further proof that most people are failing to have a fair share in the benefits of recovery.

“The return of rising inequality should worry everyone as it suggests that nothing has been learned from the financial crisis despite the huge fall in living standards that so many people are still experiencing.”

According to the ONS, the equivalised household disposable income of the richest fifth households grew by £940 between 2011/12 and 2012/13, while the disposable income of all the other groups fell by around £250, with the poorest households experiencing the sharpest fall of £381.

The richest fifth households now earn more than £30,000 more than the average household.

NOTES TO EDITORS:
Changes in equivalised household disposable income by quintile
 2011/12 2012/13 Change
Bottom 11,503 11,122 -381
2nd 17,988 17,805 -183
3rd 23,746 23,533 -213
4th 32,111 31,870 -241
Top 58,109 59,049 +940
All 28,691 28,676 -15
Source: ONS
- The ONS figures are available at www.ons.gov.uk/ons/dcp171778_367431.pdf
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