Overview

• The report finds the wealthiest 2% of households control about 18% of Scotland’s total wealth, averaging around £1.7 million each.
• Median household wealth declined to £214,000 for 2018–2020, down from £242,700 in 2016–2018 and £250,700 in 2014–2016.
• Tax Justice Scotland and the Scottish Trades Union Congress demand scrapping Council Tax in favor of a modern property tax and new wealth levies to tackle child poverty and underfunded public services.
• Social Justice Secretary Shirley-Anne Somerville said targeted benefits have made the poorest 10% of households with children an estimated £2,600 a year better off and warned that most fiscal powers remain reserved by Westminster.
• The analysis highlights stark age divides in assets, with younger households holding few property or pension assets and older households building wealth mainly through home equity and pensions.