The £1 trillion pie: how wealth is shared across Scotland

Document type
Report
Author(s)
D' Arcy, Conor; Bell, Torsten
Publisher
Resolution Foundation
Date of publication
22 June 2018
Subject(s)
Social Policy, Poverty Alleviation Welfare Benefits and Financial Inclusion
Collection
Social welfare
Material type
Reports

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The wealth of Scottish households has grown rapidly in recent years and now exceeds £1 trillion for the first time.

The report explores some of the key inequalities when it comes to wealth in Scotland.

Key findings:

  • Wealth has grown much faster than incomes: Scottish wealth has grown from being five times GDP to more than seven times over the last decade. This has made it much harder to close wealth gaps by earning and saving.
  • Generational divides have opened up: Recent wealth booms have largely benefitted older generations, with no cohort born since 1965 seeing higher wealth than their predecessors at the same age. At age 35, those born in the second half of the 1970s had one third less wealth than those born just five years before (£33,000 vs £52,000).
  • Inheritances are booming: What you inherit, rather than what you earn, is set to become much more important determinant of your lifetime living standards in the years ahead.

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