Britain's rich get richer even as recession begins to bite

But this time the uninterupted growth of wealth amongst the already super-rich takes place amidst a period of extreme economic turbulence, during which the living standards of working people have fallen sharply. As Sunday Times journalist Philip Beresfords opening gambit illustrates: Even as the storm clouds gather, Britiains super-rich have never been richer.

Not only are the super-rich utterly impervious to the extortionate recent rises in the cost of living, but their wealth grows whether economic conditions are favourable or not. While house prices in the UK have begun to fall, reports in the media detail how the rarified West London housing market of the international super-rich is insulated from such downward pressures and continues to climbalbeit at a slightly slower rate.

The accumulated wealth of those on the rich list has grown to £412.8 billion, an increase of almost £53 billion from last year. Growth has fallen by more than a quarter, from last years rate of 20 percent, to 14.7 percent. Of this years top 10, only three were born in Britain. Indian-born number one Lakshmi Mittals wealth grew by an astonishing 44 percent, mainly by virtue of swallowing up more international steel producing facilities through mergers. Such business manoevres usually result in consolidation and redundency notices for staff who find their jobs duplicated.

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