§ Mr. Marquandasked the Chancellor of the Exchequer what proportion of the privately-owned capital wealth of the United Kingdom is owned by the wealthiest 1 per cent. of the population, what proportion is owned by the wealthiest 10 per cent., and what proportion is owned by the poorest 50 per cent.
§ Mr. Patrick JenkinIn 1968, the latest year for which an estimate has been made, the wealthiest 1 per cent. of the population aged 15 or over owned 34 per cent. of the estimated total wealth owned by individuals, and the wealthiest 10 per cent. of the population aged 15 or over owned 75 per cent. of the wealth. The poorest 50 per cent. of the population aged 15 or over owned no wealth of the kind included in the estimates. These do not take account of wealth which can be transferred without formality on death. In 55 per cent. of the deaths in 1968 no grant of representation was required either because no property was left or because the assets were of such a kind such as National Savings Certificates, where arrangements exist for the transfer of small amounts without a grant.