KJIPUKTUK (Halifax) – Nova Scotia’s wealthiest 20% own 64% of Nova Scotia’s total net worth, according to newly released wealth data by Statistics Canada.
Meanwhile, the poorest 20% of Nova Scotians can’t claim any share of the collective wealth. Instead as a group they owe, because their debts exceed their assets.
The poorest 40% of Nova Scotians can lay claim on only 3% of all wealth in Nova Scotia. Add to that the next quintile, and the poorer 60% of Nova Scotians control a mere 13% of all wealth in the province.
Statistics pertaining to the top 1% or top 10% of Nova Scotians would no doubt paint an even starker picture. As well, data for urban Halifax would likely show a higher percentage of wealth in the hands of the top 20%. However, in either case Statistics Canada does not provide those numbers.
Rich-poor ratios in Nova Scotia are similar to those in other Canadian provinces.
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