HC Deb 16 October 1975 vol 897 cc802-3W
Mr. Noble

asked the Chancellor of the Exchequer if he will give a breakdown of total personal wealth by the Registrar-Generals' social classes I-V, according to the latest available information.

Mr. Robert Sheldon

I regret that information upon which to base such an estimate is not available.

Mr. Noble

asked the Chancellor of the Exchequer if he will publish a table setting out the distribution of total personal wealth according to the level of earned income of wealth holders, by intervals of £1,000 up to £10,000 and then intervals of £5,000 thereafter.

Mr. Robert Sheldon

I regret that the information upon which to base such an estimate is not available.

Top 50% Top 20% Top 10% Top 5% Top 1%
of wealth-holders
British quoted ordinary shares 99 96 93 86 64
Other company securities 99 97 94 87 68
Quoted United Kingdom Government securities 97 90 85 77 54
Cash and bank deposits 79 56 43 34 19
Land 100 97 94 86 65
Non-residential buildings 98 90 81 62 30
Household goods 84 54 42 32 19
Trade assets 98 83 67 53 24

These estimates relate solely to personal wealth as identified from the estate duty statisics for Great Britain. They therefore exclude a considerable amount of private property held (i) by those with comparatively small amounts of wealth for whose estate probate would not be required; (ii) in settlement, particularly in discretionary trusts and surviving spouse settlements.

Paragraphs 5–7 of Appendix 2 of the Green Paper on Wealth Tax (Cmnd 5704) deals with these, and other qualifications to the data, in more detail.