Britain’s divided decade: the rich are 64% richer than before the recession, while the poor are 57% poorer

‘The gap between richest and poorest has dramatically widened in the past decade as wealthy households paid off their debts and piled up savings following the financial crisis, a report warns today.

By contrast, the worst-off families are far less financially secure than before the recession triggered by the near- collapse of several major banks. They have an average of less than a week’s pay set aside and are more often in the red.

Younger workers have fallen behind older people while homeowners – particularly those who have paid off their mortgages – have become increasingly affluent compared with their neighbours who are paying rent.’

Read more: Britain's divided decade: the rich are 64% richer than before the recession, while the poor are 57% poorer