Regional inequality is a deep rooted issue in the UK – and one that appears to be growing.

Recent studies have shown the gaping north-south divide will only get wider if funding isn’t changed, that deprived northern towns are hit harder by austerity and that northern cities like Liverpool have fared the worst in terms of Government budget cuts.

Greater Manchester Mayor Andy Burnham has even argued northerners are discriminated against in London because they are considered ‘different’.

And let’s not forget the region’s failing transport system, extortionate train fares and none-existent ‘northern powerhouse.’

So in what may come as a surprise to absolutely nobody, a new study has found that the richest tax payers in the country are still middle-aged men living in the south.

New research shows that a growing proportion of the wealthiest taxpayers in the country are concentrated in London and the South East.

The Institute for Fiscal Studies (IFS) has assessed HMRC data on income tax and made the shock (*coughs)  discovery that more than half of the richest 1% of people live in London and the South East.

The data revealed a ‘huge gender disparity’ among the highest paid earners (another shocker), with men making up 83% of the top 1% of income tax payers and 89% of the top 0.1%.

More than third of the country’s wealthiest live in London alone – a figure which has steadily increased over the last 15 years.

The data, from between 2000-01 and 2014-15, showed the proportion of the richest tax payers living in the capital grew by a fifth, from 29% to 35%.

Those in the top 1% of income tax payers in London will be bringing in a huge six figure salary of over £300,000 a year.

Meanwhile, the top 0.1% are enjoy pre-tax incomes in excess of £650,000 a year.

Considering the average annual salary in the UK is about £30,00, that’s a staggering sum of money to most people.

But according to Robert Joyce, deputy director at the IFS, London’s highest earners don’t even realise how rich they are – because everyone around them is just as rich.

Half of the richest 1% lived in just 65 parliamentary constituencies in 2014-15, down from 78 in 2000-01.

Of those 65 constituencies, 52 are in London and the South East.

Mr Joyce, author of the IFS report, said: ‘The highest-income people are very over-represented in the country’s South East corner, most of them are men, and many are in their 40s and 50s.

‘This geographic and demographic concentration may be one reason why many of those on high incomes don’t realise quite how much higher their incomes are than the average.

‘The sheer scale of the gap between the top 1% and the top 0.1% may also help explain that.’

All isn’t as rosy as it seems, though. While these people are extremely wealthy right now, they won’t be extremely wealthy for their whole entire lives.

Mr Joyce added: ‘It is also important to realise that many more than 1% of the population will at some point in their lives have incomes that will place them in the top 1%.

‘Very few will be in the top 1% all their lives.’

Better enjoy it while it lasts then…

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