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Black Equity Organisation launches report on the reality of the UK racial wealth gap
The Black Equity Organisation and the Fairness Foundation have jointly launched a new report which reveals the reality of the racial wealth gap in the UK.
The report combines facts and figures on the racial wealth gap with new illustrative case studies which evidence the impact of racial inequalities across a person’s lifespan.
Most ethnic minority groups possess far less wealth than their White British counterparts. Black African and Black Caribbean households typically have a mere fraction of the average net worth of White British households. This disparity is the legacy of both historical discrimination in terms of housing and employment and more recent failures to address ongoing systemic inequalities. These inequalities have compounded over generations, restricting the wealth-building opportunities available to many minority groups.
As a result, home ownership, a primary mechanism for wealth accumulation and intergenerational transfer, is significantly less common among Black African and Black Caribbean families than among White British households. The consequences of this divide manifest not only in housing, but also in education and career outcomes, where structural and socio-economic factors reinforce one another. Comparative analysis of two case studies – men of the same age in London, one White British with access to family support and one Black Caribbean without – shows how equal salaries do not translate into equal opportunities, because of unequal access to wealth.
New polling commissioned by the Fairness Foundation has also revealed that concerns about ethnic inequalities have risen since 2024, with 6 in 10 voters now reporting that inequalities between people in different ethnic groups are at least a moderate problem.
It was launched at a cross-party reception in the Palace of Westminster sponsored by Adam Jogee MP.
Black Equity Organisation Timi Okuwa said:
“Our report highlights how deeply the racial wealth gap is rooted in unequal access to housing, assets, and inheritance. Wealth inequality doesn’t just affect financial security – it shapes life chances, health outcomes, and long-term opportunity. Evidence shows that even modest financial assets early in life can significantly improve wellbeing later on. That is why the Black Equity Organisation is committed to our programmes such as My Credit, My Power, which supports young Black women to build stronger financial futures. But programmes alone are not enough. Closing the racial wealth gap should be an urgent priority for government and local authorities.”
Fairness Foundation Will Snell said:
“Today’s economy is profoundly unfair, with the effects of soaring wealth inequality particularly felt by people ethnic minority backgrounds. In a country where what you own is now much more important than what you earn, the legacy of historical injustice is compounded by the failure of politicians to address present-day inequalities.
“We must see the Government step up to the plate, take these issues seriously and act on our recommendations to rebalance the economy. In 2026, your background must never be a barrier to a good life. Policymakers must leave no stone unturned to build a fairer economy for everyone in our society”.
