Britain's super rich: racing away?

The latest Institute for Fiscal Studies briefing note, Racing away? Income inequality and the evolution of high incomes, focuses on the 'super-rich'. Authors Mike Brewer, Luke Sibieta and Liam Wren-Lewis define this group of 'high income individuals' as the richest 1 in every 1,000 taxpayers (i.e. the top 0.1%) The super-rich earn £350,000 or more in taxable income a year. Nine in every ten are men, and most are lawyers, City bankers and the like. The accompanying IFS press release states:

The outlook for inequality in Britain may depend more on the outlook for the stock market than on Government tax and benefit policies, a study by IFS researchers suggests today. Even though the current Government has increased taxes on people with high incomes, this has not prevented them from them racing further away from the average level of living standards across the country. In recent years, it is only in the wake of extended falls in the stock market that the incomes of the richest have fallen.

The FT's Chris Giles comments on the role played by market forces in his piece, Very rich get richer under Labour:

Highlighting a sea-change from the early post-war years when wealth often derived from land or other inherited assets, Mr Sibieta said the 21st century super-rich received 80 per cent of their incomes from an occupation - whether salaried or self-employment - rather than investments. "We are talking about the working rich rather than the idle rich," said Mr Sibieta.

But the past decade has seen rich people's income sputter as well as soar. With so many working in finance, there is a strong link between their fortunes and those of the stock market. Real incomes of top-earners grew 6.6 per cent a year on average between 1996-97 and 2001-02.

Yet in the following two years, when the stock market reached its low point, they fell on average by 2.7 per cent, before picking up again alongside equities in 2004-05. That tight correlation leads the IFS to predict that, with the rapid growth of financial markets since 2004-05, the incomes of the richest will have risen quickly in the past two years.

The data show the impact of Labour's generous funding of the public services this decade. The one group outside finance, the law or property to be well represented in the top 1 per cent of incomes works in the health sector. These were "presumably doctors and senior health service managers who have enjoyed relatively big pay increases under Labour", added Mr Sibieta.

The 'super-rich' earn 31 times average incomes: around £780,000 pre-tax income a year, of which they pay on average almost £275,000 in income tax: a tax rate of 35.3%. This is double the rate paid by the average UK taxpayer, who earns around £25,000 and pays £4,400 in tax: a rate of 17.6%.

Comments

[travesti]

Thanks for helpful information Travesti siteleri you catch up us with your sagol instructional çok explanation.
en iyi travestiler en guzel Travesti

Travesti
Travesti video
Travesti porno

[rolex daytona]

Real incomes of top-earners grew 6.6 per cent a year on average between 1996-97 and 2001-02.

[sevgi]

Thank you for this wonderful article ... really very nice - there are such things
Güzel Sözler
Şiir veburada

Şair go back
hikayeler
isimler Amatör

Şairler veya isim şiirleri Mektuplar
sokak
Güzel sözler

[rolex submariner]

thanks for you share ,i like so much,It is so lucky to read your blog,it is full of useful message

[nfl jerseys]

thanks for you share ,i like so much,It is so lucky to read your blog,it is full of useful message

[Kids Comforter Set]

Where are they going then?

[GHD]

successHerve Leger dressesexpect
Herve Leger clothingearly

make sureHerve Leger clothing
desired piecesDiscount herve leger in minutes
eleganceChristian Louboutin SandalsThe creative vision
let me downChristian Louboutin Sandals Sale

leatherPrada SunglassesTalented artist
Oakley Sunglassesluxury
appealArmani Sunglassesthe most exciting

a href="http://www.designersunglasses-glasses.com/bvlgari-sunglasses-c-46.html">Bvlgari suglasses salethe detail
reallyBvlgari suglassesSpain
Cheap Bvlgari suglasses on slae

Martini Sunglassesed hardy kid tshirtsthe players
Ed Hardy Men Beach Pants
ed hardy hoodiesdisplay

a href="http://www.cheap-ed-hardy-clothing.com/ed-hardy-sunglasses-c-14.html">Cheap ed hardy sunglassesOne day
hardy clothingCheap ed hardy WomenApparently

ShopCheap Herve Leger Dressesthis summer
Discount Herve Leger Dressesmany times
my listHerve Leger Skirtall time

this reasonCheap Herve Leger Dress 2010well-known design
classifiedCheap Herve Leger Saleforever

a fewWomen Christian Audigier BagsApple floods

annually Women Christian Audigier Underwear
Women Christian Audigier Walletslogical

a piece of Christian Audigier Women Purses Discountthe pie
Christian Audigier Women Caps Discountfashion
Christian Audigier Women Hoodies Discountdaily

humanMBT Sandalswhy
questions MBT Sports Shoespanda
spend all day MBT Casual On Saleshopping

First offMBT SapatuGreen
United StatesWomen MBT Sapatu Sandalsconsumers
MBT Sapatu Men Sandals On Saleindustry

responsiblelouboutin pumps saleplanet
the environmentlouboutin shoes salebut also
pictureslouboutin boots saleshare

charmsMen Louboutin Shoesactivelytwo eras mightChristian Louboutin men sneakersextremelyin commonChristian loubout shoes discount salecollection

talking aboutDiscount Ghd Straightenerspecifically
Ghd Hair Straighteners Cheaplook like springGhd Hair Straighteners Cheapsport hardingBlue Serenity GHD IV Stylerstudentthe richDark GHD IV StylerteacherGHD Benefit StylershootsadnessHerve Leger Dress Discountdiscovery themeDiscount Herve Leger Dressstyler

fashionableDiscount Herve leger Bandage Dressincredible

sponserHerve Leger Clothing Cheapsurvival
encourageHerve Leger Clothing On Salelight
tell me truthDiscount Herve Leger Skirtdarling
a href="http://www.ugg-uk-australia.com/">ugg ukmistake
kateugg australiasomewhere
lineugg boots on salecan
theyuggs boots ukkinds
all bestuggs australiatheme

memoryugg 5359throw up
give meugg 1873its up to you
skyugg 5885closely

[Maria]

Çilek sex shop Mağzamızda En Kaliteli sex ürünleri, sex oyuncakları şişme bebek ve erotic shop erotik giyim Ürünlerini Bulabileceğiniz Gibi Ayrıca, penis büyütücü, geciktirici, Bayan Uyarıcı, Ürünlerde Temin Edebilirsiniz. 1994 ten Bu Yana En Kaliteli Orjinal Erotik Ürünlerini Sağlamakta Olan Çilek Erotik Shop ta Tüm Cinsel Ürünleri Bulabilirsiniz

[horkes]

Remove it from the loud sound described as among the People of the individual during sleep, especially in the medical sense, the most common cause of snoring soft palate observed in adults, little more than normal growth of the tongue, the muscles sag and lose tension and blockage of the airway during sleep titresmesidir little of the language.

[anime]

India is currently suffering from anime figures a deficit of between 80 - 100 million housing units and the country’s government have realised that foreign direct investment into the property sector is key to solving this strategic issue and to further boosting the country’s growing economy over the longer term.

Having identified this fundamental fact, the government have issued brand new legislation to liberalise the laws of FDI with regard to the property sector in pvc figure and immediately the Indian real estate market has embraced a record amount of overseas investment which has been committed by US based investors to new housing projects in the cities of Bangalore, Christian Audigier Mumbai, Kolkata and New Delhi.

The housing market in India is already oversubscribed.There is therefore room for substantial growth and impressive profits and returns and these facts have been identified by Nevada based Royal Indian Raj International Corporation who have resin kit up with the New York based investment banking company Greenwich Group ed hardy International to jointly announce a one billion US dollar initial investment into India’s property sector.

The initial one billion dollar investment may well be record FDI for the real estate sector in India but it heralds merely the start of Royal Indian Raj International Corporation’s commitment.WWE Action Figures Royal Garden Marina City and Financial Harbor are the next two projects on line to be developed in Mumbai which is India’s financial capital. Over sixteen billion dollars of investment will be raised to develop the projects which will cover over five thousand acres of prime real estate in Mumbai.

[altin çilek]

Virginity is not a drop of blood can be measured. Virginity is actually the person's brain. Of course, "Everybody get together promiscuous, sex lives and in defiance of the rules of society" do not call, but the man of society, while providing unlimited sexual freedom, restriction of women's sexuality in the future, the woman down and will never enjoy sex marriage could not understand life can be.

[sac çikarici]

Internet users in more than 2 billion people worldwide, 778 million the number of computers registered to the internet, the web of 313 million, a total of 205 million units in the name of that reported.

To the extent that there is hundreds of millions of blogs and video Ahmed, said that Turkey has been estimated that there's at around 30 million.

Ahmed, the computer recorded the number of Internet in Turkey has been reported around 4 million, 250 thousand under .. en told that the domain name.

[diş beyazlatma kalemi]

Save the essence of life in the treatment of skin allantoinle Snail! This essence creates a bad appearance and have no choice tahribatlarının skin no longer be removed even if the so-called cracks.

Nature of this herbal solution effectively and safely as possible to get rid of sivilcelerinizden! Skin care products on behalf of the choice deliberately choose to adhere and creams containing natural formulas that you keep the fault

[VimaX]

I am thoroughly convinced in this said post. I am currently searching for ways in which I could enhance my knowledge in this said topic you have posted here. It does help me a lot knowing that you have shared this information here freely. I love the way the people here interact and shared their opinions too. I would love to track your future posts pertaining to the said topic we are able to read.

[extra jel]

As millions of people who want to lose weight, but youDid he can not succeed in a kind of worry about your weight yanıyorsunuz more? You might think, and this process will be much easier to lose weight in a healthy way to get over ... Now a much more difficult as it used to have a nice view, but you have to do is that you want to attenuation.

[office 2010]

good thank like your "explosive" analogy, I use it in my business as well. Thanks for the great content.

[yetkili klima servisi]

thank for all information

[celltone]

aşam için yeşil alanlar çok önemli. Bugün şehirlerin gelişmişlik göstergesi yeşil alan olmaktan çıktı, binalar şehirleri sarmaya devam ediyor."

acnema