What is "Middle Britain"..... Interesting research

HAMISH_MCTAVISH

Although one in three Brits now considers themselves to be part of Middle Britain**, the AXA Financial Task Force analysis shows that in fact around only five million households – 20 per cent of all homes – fall into the true definition of Middle Britain.

Typically a Middle Britain household has an income in the 70th – 95th percentile of all earners, or incomes of between £40,000 and £100,000 per annum, earns an average of £62,000 a year before tax and has a disposable income of £40,000 a year – some £22,000 more than the average UK household.

And unless you have at least two cars, have a mortgage or own your home outright, and work in management or professional occupations, the chances are you'll struggle to become a member of this group of university educated families, the AXA Financial Task Force figures suggest.

Interesting research there......

I did not realise that the percentage of households earning that much in the "middle Britain" segment was as big as it is. Don't forget this number EXCLUDES all the households with income above 100K.

Turns out it's also far bigger now than it was ten years ago.... And still growing.

Yet despite a relatively small proportion of households fitting into this privileged group, the AXA findings show that ten years ago Middle Britain was a third smaller and around 40 per cent poorer. In 1998 just 15 per cent of all households in the UK met the group’s Middle Britain criteria, earning gross household incomes of between £32,000 - £68,000 per annum or an average salary of around £45,000 – almost 30% less than in 2008.

Full report here.....http://www.axa.co.uk/media/pressreleases/2008/pr20080618_0900.html

mr_fishbulb

I'd like to challenge the use of the word "interesting".

Graham_Devon

The key part to that is that 75% of those 20% who make up middle britain, have no kids.

Also interesting is:

In fact debt advice centres in so-called Middle Britain heartlands have seen as much as a 500 per cent increases in enquiries with even with people on salaries as high as £70,000 seeking advice well.***

Dunno what "seeking advice well" means. Does it mean they are seeking advice better than others

mr_fishbulb

Graham_Devon wrote: »

Dunno what "seeking advice well" means.

I'd guess it's like a wishing well.

Really2

HAMISH_MCTAVISH wrote: »

Interesting research there......

I did not realise that the percentage of households earning that much in the "middle Britain" segment was as big as it is. Don't forget this number EXCLUDES all the households with income above 100K.

Turns out it's also far bigger now than it was ten years ago.... And still growing.



Full report here.....http://www.axa.co.uk/media/pressreleases/2008/pr20080618_0900.html

You stole my link

HAMISH_MCTAVISH

Really2 wrote: »

You stole my link

I did.

Thanks for that, really interesting stuff.:T

I am surprised so many households earn so much. 5 million earning between 40K and 100K.

Plus all the households earning more than 100K.

And the average including the low earning households is still 35K.

lemonjelly

Graham_Devon wrote: »

The key part to that is that 75% of those 20% who make up middle britain, have no kids.

Also interesting is:



Dunno what "seeking advice well" means. Does it mean they are seeking advice better than others

I think this relates to financial literacy. Anecdotally, the middle classes are more likely to have some information re their rights & responsibilities, are less likely to be deferential, and are more likely to seek advice in respect of legal problems. In addition, they are more likely to be able to afford advice, or have the means to seek out free advice.

bendix

One could make a case that this the increased trend of young people to stay living with their parents as students, unemployed or even working for much longer (due, perhaps to house prices) is contributing to that.

It talks about household income.

With, say, a father working full-time, a mother with a part time job, and a grown up kid or two pulling in a wage, then getting to £40k income for a household is hardly breaking into a sweat.

I recall the debate here earlier this year on the obese family from Blackburn who were too fat to work. Two parents and two heifers (sorry, daughters). With income support, incapacity benefit times four, housing benefit and god knows what other benefits, I can easily see that family getting close to £40,000. I would hardly call them middle class or middle Britain.

Or would I?

lemonjelly

bendix wrote: »

One could make a case that this the increased trend of young people to stay living with their parents as students, unemployed or even working for much longer (due, perhaps to house prices) is contributing to that.

It talks about household income.

With, say, a father working full-time, a mother with a part time job, and a grown up kid or two pulling in a wage, then getting to £40k income for a household is hardly breaking into a sweat.

I recall the debate here earlier this year on the obese family from Blackburn who were too fat to work. Two parents and two heifers (sorry, daughters). With income support, incapacity benefit times four, housing benefit and god knows what other benefits, I can easily see that family getting close to £40,000. I would hardly call them middle class or middle Britain.

Or would I?

You were right first time...

Ingsy

I'm suprised that Middle Britain covers such a wide spread of household incomes.

michaels

Am I the only one who is finding this a bit academic as 'Middle Britain' is not a demographic term I am really familiar with. Is it seen in wide usage? What does it signify?