An Uneven Inheritance: Examining wealth inequalities within and between generations

British household wealth has been on a rollercoaster ride in recent years. Increased saving during the Covid-19 pandemic boosted wealth, only for interest rate rises during the cost-of-living crisis to wipe out wealth gains.

Since the late 1970s overall measures of wealth inequality have been relatively stable. But this hides big changes in wealth gaps both within generations, and between them. And as wealth is passed down through generations, the state of wealth in Britain today has huge implications for current and future living standards, for young, old and middle-aged alike.

How has recent economic turbulence affected Britain’s story of growing wealth, and growing wealth gaps? How have higher interest rates affected wealth inequality, and how might wealth transfers through inheritances and gifts affect future trends? What are the long-term implications for continued wealth inequality, particularly for younger generations? And is there a role for policy in tempering these trends?