Sunday, 20 April 2014

It take a CEO 3 days to "earn" what an average worker earns in a year!

A CEO earns the UK average salary in just three days

To download the full pdf, click here

Explaining the data:
CEO pay of £4.25 million is take from the Manifest survey of CEO pay, while workers’ pay of £27,000 is taken from the Office of National Statistics Annual Survey of Hours and Earnings. To calculate hourly pay, we have (generously) assumed that CEOs take just 10 days annual leave and work an average 12 hours a day, 6 days a week.


***************

Tuesday, 15 April 2014

Nearly one third of all wealth in UK is inherited not earned

28% of all wealth in the UK is inherited

To download the full pdf click here

Explaining the data:
This is important because wealth ownership in the UK is incredibly unequal and inherited wealth only goes to the richest few. Most people don’t own any wealth whatsoever, while only 13% inherit anything. The original data come from HMRC statistics on inherited estates, and the Attitudes to Inheritance Survey


*****

Thursday, 10 April 2014

Top jobs dominated by ex-pupils from private schools: how wealth and power is passed on

People who went to private schools dominate top professions


To download the full pdf click here

Explaining the data:
These figures are provided by research from the Sutton Trust – a summary of findings can be found athttp://www.suttontrust.com/ news/fast-facts/ 



******

Friday, 28 March 2014

The people who need the least help get the most: Inequality deepens

high earners are four times more likely to have had help from their parents

To download the full pdf click here

Explaining the data:
The Attitudes to Inheritance Survey carried out in 2004 surveyed 2,000 people about their experiences of and attitudes towards inheritance. Overall 24% of people reported having received a “gift worth £500 or more” from their parents at some point in their lives. Removing the effect of age differences, the predicted probability of people in the highest income group (those earning £52,000 a year or more) having received a transfer was 48%. The predicted probability for those in the lowest income group (£5-10,000 per year) was 12%.Looking just at people who had received gifts, people in the highest income category on average reported receiving a lifetime total of £16,067. For people in the lowest income category this figure was £7,739. 


*******

Monday, 24 March 2014

Housing is unaffordable for most people in normal jobs

Housing is now unaffordable for most people in normal jobs

To download the full pdf click here

Explaining the data:
Average housing costs are calculated using the Valuation Office Agency private rental market statistics, plus data on energy and water bills from the Department for Energy and Climate Change and Ofwat.Gross incomes are calculated using pay data from Government sources. These include the NHS Careers website, the government teaching careers website and the annual survey or hours and earnings. Income tax, national insurance and council tax for Band A properties net of 25% single person’s discount (taken from a Department for Communities and Local Government report) are all considered. 



*******


Saturday, 15 March 2014

Family wealth more than ever influences ability to buy own house

80% of first-time house buyers depend on ‘Bank of Mum and Dad’

Download the full pdf here

Explaining the data:
The main figure comes from the Council of Mortgage Lenders from Dec 2011,http://www.cml.org.uk/cml/publications/ newsandviews/104/390. The restriction to those under-30 is because at older ages people are more likely to be ‘returners’ (i.e. we are less confident that they are truly first-time buyers). 


********