Chris Johns

The top 10% have moved away from the bottom 90%.

I'll bet you can guess the main drivers of the top 10% moving away from the bottom 90%.

It's property prices.

started over the last few years owning a house the bigger the more expensive the better located the better you just got richer and richer and richer there have been and so it's a story the wealth inequality thing story in the uk is very much one about housing and you know you and i over the years have gone on about how housing is a global phenomenon the house price thing is worldwide and it's not just irish it's not just british i don't know if you notice the portuguese central bank report today i know you read these things assiduously guess what they majored on

Housing.

Portuguese house prices.

The country had the most rapid increase in the EU house prices in 2025.

It was Portugal.

They're warning of all the sorts of things that come with rising house prices.

And Brits.

There's a lot of Brits there as well.

Spain and Italy doing much better, absolutely.

Sorry to haul you back to the UK.

I'll shut up about it in a minute.

But the housing thing is responsible for the wealth inequality.

Income inequality has hardly budged for 30 or 40 years.

We can blame Thatcher for that.

So why is Burnham going on about inequality?

Why isn't he just going on about housing?

I don't know.