BRITAIN'S MILLIONAIRES.

New Zealand Herald, Volume LI, Issue 15504, 10 January 1914, Page 5 (Supplement)

BRITAIN'S MILLIONAIRES.

I How many millionaires are there in the (United Kingdom? This question is answered in an official report just published by the Inland Revenue Commissioners. First, it is shown that during the past ten years death duties have been paid on no fewer than eight-one estates which have been individually valued at £1,000,000 or more. Other evidence to be found in the figures, however, suggests that the number of millionaires is considerably larger than this. A man whose annual income is over £55,000 a year may reasonably be regarded as a millionaire, for capitalised at only 4 per cent, his income is worth £1.275,000. According to the returns there were no fewer than 214 fortunate persons with this satisfactory income or more. They were divided as follows : —

Income. Number. £55,000 to £65.000 56 £65.000 to £75.000 37 £75,000 to £100,000 55 £100,000 or over 66 If one were to take the American definition of a millionaire—that is, a man possessing a million dollars, or £200,000— we find that they are comparatively plentiful in this country. Last year alone, for instance, there were 106 estates on which death duties were paid of this value and over, while the possessors of incomes of £10,000 a year and over number no fewer than 4143. The total number of persons with half this income, or £5000 a 7ear and ovcrj. was 11,800.