Marked improvements in the standard of living for people in Britain have taken place during the 20th century. According to the United Nations, in 1997 Britain ranked fifteenth out of 175 countries on a human development index that combines life expectancy, education levels and basic purchasing power.
Earnings from employment remain the main source of household income for most people, although other sources such as private pensions and annuities have become more important. Disposable income - the amount of money people have available to spend after income tax, National Insurance and contributions to pension schemes have been deducted - is now at its highest-ever level. Since the 1970s there has been little change in the distribution of marketable wealth, half of which is owned by the richest 10 per cent of people. A large proportion of personal wealth in Britain is in residential property. There has also been growth in share ownership in recent years.
Average weekly household spending in Britain is about ₤311. Food and housing costs constitute 18 and 16 per cent of this. Transport and leisure pursuits account for about 16 per cent each.