The FT reports that:
The very rich have grown richer at double the pace of most Britons under Labour and their incomes may have accelerated further in recent years on the back of a rising stock market, research from the Institute for Fiscal Studies shows.
As they showed, the income of the very richest person rose on average by 4 per cent above inflation every year between 1996-97 and 2004-05. That compared with growth of about 2 per cent for those on middle incomes.
There is some other sobering data.
To be in the top 0.1 per cent of earners you now need to earn £350,000 a year. 47,000 had incomes of that level.
£100,000 a year puts someone in the top 1 per cent of earners, while £35,000 puts one among the nation's top 10 per cent.
That's how skewed our economy is.
But there's another fact. When I tell those who earn £100,000 a year that they are in the top 1% they are incredulous: how do the rest of the world live, they say? We're not well off, is their opinion. Which is as worrying.