new estimates from the Office for National Statistics appear to show that Margaret Thatcher's dream of creating a shareholder democracy has taken root.From the Daily Telegraph, 27th January, 2010:
The ONS found that 15pc of British households – 3.75m – own some shares directly on the London stock market.
Just 10.2 per cent of the value of shares traded on the UK stock market were held by individuals at the end of 2008, down from 12.8 per cent two years previously. This fall equates to a substantial decline of £120 billion.errr...
Back in 1964 more than half of the UK stock market - 54 per cent - was held by individuals.
The data highlight how the Thatcher revolution in private share ownership failed to create a lasting impression on the stock market, while more recent turmoils in the market such as the dotcom bubble bursting and the financial crisis of 2008 have led to individual consumers owning ever smaller share portfolios.
Actually if you read both articles the stats make sense - one study takes a wider view than the other. But you might have thought that the Torygraph might read it own news.