Richest 1% have almost a quarter of UK wealth, study claims

Official figures have missed 800bn of private assets, says thinktank, amid calls for wealth tax to fund Covid recovery

Almost a quarter of all household wealth in the UK is held by the richest 1% of the population, according to alarming new research that reveals a historic underestimation of inequality in the country.

The study found that the top 1% had almost 800bn more wealth than suggested by official statistics, meaning that inequality has been far higher than previously thought. Researchers said the extra billions was a conservative estimate and could well be more.