The ONS shows that 91% of wealth belongs to the top half, most to the top tenth, while the bottom tenth owe more than they earn.
It\’s not just that she\’s confused wealth, which is a stock, with income, which is a flow.
It\’s the ludicrous stupidity of saying that someone owes more than they earn. Yes, well? So does everyone with a mortgage. I\’m not exactly poor, having a decent income plus a few hundred thousand\’s worth of wealth (by no means a millionaire but 25 years of property ownership does help). But I certainly owe more than I earn for I\’ve a mortgage (two in fact).
So what is she wibbling about?