{"id":345006,"date":"2025-08-14T22:47:10","date_gmt":"2025-08-14T22:47:10","guid":{"rendered":"https:\/\/www.europesays.com\/uk\/345006\/"},"modified":"2025-08-14T22:47:10","modified_gmt":"2025-08-14T22:47:10","slug":"report-finds-top-2-of-households-have-18-of-wealth-in-scotland-2","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/uk\/345006\/","title":{"rendered":"Report finds top 2% of households have 18% of wealth in Scotland"},"content":{"rendered":"

The wealthiest households in Scotland have on average \u00a31.7m in total wealth, while in comparison the least wealthy had just \u00a37,600, a new report has revealed.<\/strong><\/p>\n

With the figures showing the wealthiest 2% of households have almost a fifth (18%) of wealth in Scotland, campaigners said the data highlighted \u201cthe vast scale of unfairness in Scotland today\u201d.<\/p>\n

The report looked at wealth in Scotland \u2013 which includes the physical wealth of households\u2019 belongings, as well as savings and investment, property and pension wealth.<\/p>\n

The latest data, for the period 2018 to 2020, showed median household wealth in Scotland stood at \u00a3214,000 \u2013 with this down from \u00a3242,700 in 2016 to 2018 and \u00a3250,700 in 2014 to 2016.<\/p>\n

The report, which was published by the Scottish Government, noted: \u201cA typical household in the wealthiest 10% of households had \u00a31.7m in total wealth, whereas a typical household in the least wealthy 10% of households had \u00a37,600.\u201d<\/p>\n

It added: \u201cThe least wealthy households rarely own property or have any private pension savings. Their wealth is mainly made up of the value of their possessions such as cars, furniture and clothing.\u201d<\/p>\n

The report also noted that wealth can \u201cvary a lot by age\u201d, saying that \u201cyounger households are less likely to have much or even any pension or property wealth, and most of their wealth is made up of the value of their belongings (physical wealth)\u201d.<\/p>\n

It added: \u201cIn general, people start building up wealth once they start receiving a salary, buy some goods, maybe save some money, and pay into a private pension scheme such as a workplace pension.<\/p>\n

\u201cMany buy a home, and through paying off their mortgage they build property wealth.\u201d<\/p>\n

Meanwhile when people retire, the report said that \u201cpension wealth gets drawn upon and used up, while some people also downsize their homes and reduce their property wealth\u201d.<\/p>\n

However campaigners at Tax Justice Scotland \u2013 which wants Holyrood\u2019s powers to be used to deliver greater equality \u2013 insisted changes are needed to \u201cshare wealth more fairly\u201d.<\/p>\n

Speaking on behalf of the group Scottish Trades Union Congress, general secretary Roz Foyer said: \u201cThese figures show the vast scale of unfairness in Scotland today.<\/p>\n

\u201cWhilst those at the top accumulate more wealth, more than one in five children grow up in poverty and our public services are starved of the investment they urgently need. This cannot go on.\u201d<\/p>\n

Ms Foyer demanded: \u201cWe need urgent tax reform to help share wealth more fairly and to distribute resources right across the country.<\/p>\n

\u201cOver time, public finance pressures mean that most of us may need to pay a bit more, but this data makes clear this must start with those at the very top.<\/p>\n

\u201cIn Scotland, that means parties must set out clear plans to scrap Council Tax and replace it with a fairer, modern property tax.<\/p>\n

\u201cAt the UK level, we also need common sense wealth taxes that ensure the richest pay their fair share.\u201d<\/p>\n

She insisted: \u201cIt\u2019s time for our political leaders to step up with serious tax plans to help close this growing wealth gap and to invest in creating a fairer, more prosperous future for all of us.\u201d<\/p>\n

Scottish Green equalities spokeswoman Maggie Chapman criticised the \u201cobscene inequality in these statistics\u201d, adding: \u201cThere is a small number of people who are very well off, and a far greater number who have very little.\u201d<\/p>\n

She added: \u201cScotland has a very long way to go if we are to build a fairer society, and this must be a clarion call for change.\u201d<\/p>\n

Meanwhile, Liberal Democrat MSP Willie Rennie said that \u201cso many people are finding that there is nothing left at the end of the month\u201d.<\/p>\n

He said: \u201cPeople are paying the price for the SNP\u2019s incompetence and Liz Truss and the Conservatives crashing the economy.\u201d<\/p>\n

Social Justice Secretary Shirley-Anne Somerville said: \u201cAs a result of Scottish Government policies, the poorest 10% of households with children are estimated to be \u00a32,600 a year better off in 2025-2026.\u201d<\/p>\n

However, she added: \u201cInequality is still too high, with too many economic powers left in the hands of the UK Government which has too often sought to balance the books on the backs of the poorest.<\/p>\n

\u201cWith the full powers of independence, Scotland could do more to take a different approach from the UK status quo, and take decisions which would make Scotland the fairer, more equal country that we want to see.\u201d<\/p>\n

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