Research from the Resolution Foundation shows that a surge in Britain's housing market and soaring global stock prices have led to windfall gains for middle-income and wealthier families during the coronavirus pandemic. Corona.
The wealth of the average British family rose by 7,800 pounds (about 10,800 dollars) due to rising asset prices and, to a lesser extent, due to lower daily spending despite Britain facing the worst An economic slowdown of more than 300 years in 2020.
According to CNBC Arabia, Jack Leslie, chief economist at Resolution Corporation, said many households were forced to save rather than spend during the shutdowns while house prices remained high. On the rise even with reduced working hours.
The largest increase in wealth came to those in the middle of the wealth distribution list, whose net asset value rose by nine percent to 80,500 pounds per adult as a result of a sharp rise in housing prices. .
Britain house prices rose 9.9% in the year to March, the biggest increase since 2007, helped by lower property purchase taxes and increased demand for more spacious, work-friendly homes from home.
The richest 10% of households, who own a greater proportion of their wealth in equity and a lower proportion of housing than the average household, experienced a lower percentage increase, but the largest absolute gain, which reached 44 thousand pounds per adult.
The Resolution Foundation said the British government should look more seriously at how to tax increases in wealth rather than placing most of the tax burden on earned income and spending.
These results are also likely to interest the Bank of England, which believes that the British economy may receive a modest boost from household spending as part of their additional wealth.
