People from White ethnic groups had, on average, around 60% higher original household income (pre-tax and benefits) compared with Black ethnic groups (£42,400 versus £26,500) in the financial year ending (FYE) 2019; while the effects of taxes and benefits reduces this gap, income was still 17% lower after all these redistributive measures.
Employees who were working in occupations with a higher propensity for homeworking were on average more likely to have higher household disposable income in the FYE 2019.
Around half of workers in the richest fifth of people worked in occupations that were least exposed to the coronavirus (COVID-19), compared with around one in five workers in the poorest fifth of people.
Average annual incomes, taxes and benefits, and household characteristics of retired and non-retired households in the UK. Data for financial years, by quintile and decile groups, country and region and tenure type.
The redistribution effects on individuals and households of direct and indirect taxation and benefits received in cash or kind, analysed by household type and the changing levels of income inequality over time.
This article describes the results of analysis of the financial capability measures contained in the 2010 to 2012 Wealth and Assets Survey, many of which were asked for the first time in this wave. It has been written by Andrea Finney and David Hayes of the University of Bristol’s Personal Finance Research Centre to follow the style of an Office for National Statistics statistical bulletin