A new report by a major Swiss bank has shown that hundreds have joined the list of ultra-rich in the United Kingdom despite evidences suggesting more and more people are slipping into poverty.
The Credit Suisse said in a report published on Thursday that 400 more people had entered the club of rich individuals with fortunes of more than $50m (£38m) in Britain, an increase of 8.5 percent compared to the previous 12-month period leading to summer of 2017.
The report, covered in the Guardian newspaper, showed that Britain now had nearly 5,000 of ultra-high net worth individuals (UHNWIs), the fourth in the world after the United States, China and Germany.
However, the report said the fortunes of the top rich in the UK were growing much faster than the general population in the country, with the booming stock market being a main reason.
An author of the report said more and more people were on the verge of joining the list of ultra-rich in the…