UK household wealth rises to record level during Covid crisis | Financial Times
Meanwhile the Gov’s national assets (c£1900bn) were dwarfed by its total financial liabilities, mostly in the form of government debt, which amounted to £3tn at the end of 2020 ft.com/content/e651bf…
Meanwhile the Gov’s national assets (c£1900bn) were dwarfed by its total financial liabilities, mostly in the form of government debt, which amounted to £3tn at the end of 2020 ft.com/content/e651bf…
The liabilities were mostly in the form of Government debt.
The UK government is rare among rich countries in having a negative net worth because it went further than most others in selling off assets over the past 40 years.
The UK government is rare among rich countries in having a negative net worth because it went further than most others in selling off assets over the past 40 years.
Meanwhile increasing house prices (something that astonished me during the pandemic, lower household spending and increased value of final salary pension schemes meant household wealth rose to £11.4tn (£172k per person).
The rich got richer.
The rich got richer.
But ownership of housing stock is weighted towards the older generations, whilst the burden of debt will be there born by the young as will the reduced opportunities and reduced trading conditions as a result of Brexit.
My parent’s generation expected to rent for most of their lives but tied houses (to jobs) and public housing were more readily available.
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