UK wealth gap widens in pandemic as richest get £50,000 windfall

Resolution Foundation finds rising house and asset prices have turbo-charged' gap between richest and poorest

Britain's wealth gap has ballooned during the pandemic with the richest 10% gaining 50,000 on average, dwarfing increases for the poorest third of the population, according to a thinktank report.

The Resolution Foundation said wealth had increased during lockdown as a result of a lack of spending opportunities and rising house prices, but the benefits had been skewed to the richest by a ratio of more than 500 to 1.