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the top 1% of high earners ... in London it was more than £300,000 a year.
That actually makes me feel slightly ill. 1 in a hundred working age people (or is it only the people in work?) in London earns over £300k. What's that, like 60k individuals?
While Trust for London says that 25% of working age people in London are living in poverty.
?!?!
hoefla
@Zerostar
This explains part of it. Lots of cashed up people.
The IFS said it took an income of about £100,000 to be considered among the top 1% of high earners in Wales, the north-east and Northern Ireland. However, in London it was more than £300,000 a year.
In a sign of the extreme levels of wealth in the capital, it said a 50-year-old man in London with an income of £160,000 would earn enough to be in the top 1% for the rest of the country, but would not even be in the top 5% of men living in London.
From here https://amp.theguardian.com/business/2019/aug/06/london-is-increasingly-home-to-the-top-1-by-income-study-finds