Reports | Saltus

The Saltus Wealth Index measures and reports the views of a constituency vital to the health and future prosperity of the UK.

The first Saltus Wealth Index Report was published in October 2021. It paints a picture of a group of people generally optimistic about what the future might hold for them and the country.

The second Saltus Wealth Index Report was published in May 2022, but the fieldwork started in February before the Russian invasion of Ukraine, the consequent spike in energy and food prices and much of the decline in global financial indices. Sentiment remained positive, but clear warning signals began to emerge. The report presents the first Saltus Wealth Index, a measure of confidence comprising multiple data points.

In the third Saltus Wealth Index Report, published in January 2023, our respondents, while remaining broadly positive, show eroding confidence in all the key indicators we track.

The fourth Wealth Index Report was published in June 2023 and indicates a marginal increase in confidence since the previous report. Although there are still significant concerns for HNWIs, this movement suggests that they are feeling somewhat more positive about their prospects now than earlier in the year.

The fifth survey, conducted in December 2023 and published in January 2024, shows confidence in the UK continue to recover, but also multiple areas of discontent. Our respondents want reforms to the pension and tax regimes in particular and display some scepticism towards the Conservative government.

The sixth report was published in September 2024 and shows the highest level of confidence since the first survey in 2021. However, there remain areas of strain for our HNW respondents, most notably in areas such as taxation (and the looming change to VAT on private school fees) as well as the support they are providing to family members.

The most recent survey was conducted in January 2025 and demonstrated the lowest level of confidence in the UK economy ever recorded by the Saltus Wealth Index. The collapse in confidence comes on the back of a range of unpopular policies introduced by the new Labour government, including taxation and the introduction of VAT on private school fees, as well as rising concerns around the UK’s economic slowdown and inflation.