MOSCOW, July 28 — The number of sterling millionaires in the United Kingdom (UK) has fallen to a record low since Global Financial Crisis in 2008, Sputnik/RIA Novosti reported, citing the Adam Smith Institute.
“There are fewer millionaires in Britain than at any time since the Global Financial Crisis,” the research said on Monday.
According to the research data, there are currently 442,000 sterling millionaires in the UK, which is seven per cent lower than in 2024.
The researchers explain this situation by higher interest rates, a lack of confidence in the UK economy, a low savings rate, and the trend of high net-worth individuals either leaving the UK or no longer choosing to move there.
On July 20, new UK Prime Minister Andy Burnham pledged in his first address from Downing Street to deliver the “biggest changes” in UK politics and the economy in four decades.
