On-the-street correspondents give you the low-down...
PLUS latest survey results and more...
If this is your first visit please click here before continuing
| Shaky market cuts number of UK millionaires The number of millionaires in the UK has fallen during the past two years as their wealth was hit by volatile stock market. Between 2000 and 2001 the number of people living in the UK with more than £1 million in liquid assets fell to 68,700 from 69,600 The findings come in a report from market analyst Datamonitor. High net worth individuals with assets of more than £100,000 were also hit hard by the falling equity markets. The group says many of the country's richest people are just waiting for the stock market to show signs of a recovery before piling their cash back into it. It adds that when a recovery does come, high net worth consumers are likely to be a significant force in driving the market back up. Overall the report estimates that millionaires in the UK have about £108.5 billion held in liquid assets. It says the number of millionaires in the UK is set to continue rising during the next five years to reach 100,000 by 2006, many of whom will be self-made. Datamonitor says the super rich are increasingly turning away from off-shore accounts to hold their money in the UK as they place a greater emphasis on performance. The report said: "A relatively benign tax regime in the UK, and the constraints of tying up money offshore, means that investing offshore for many may actually harm performance." 1st February 2002 |
Copyright 2001 adultsx All Rights Reserved
ACIP worldwide copyright protection If you believe we have infringed on a copyright that you own
please contact us and the offending item will be removed immediately
Grateful appreciation to all contributors. Emma