This is how much money you need to earn to be rich
Alex Wong / Staff

When Labour pledged to raise the top rate of tax for those earning more than £80,000 (the top five per cent of earners), it swiftly promoted discussion about what is exactly quantifies as "rich".

New research from YouGov has found what people define as "rich" "poor" and "neither".

According the the research, you're considered poor if you earn up to £15,300 a year - which is about the poorest 40 per cent of earners.

Those earning between £16,478 and £38,800 are considered "neither rich more poor" by the majority of the public.

It's when you earn £60,500 that you're considered "rich," which puts you in the top 10 per cent of earners.

Despite society thinking about 10 per cent of earners are "rich", only four per cent of people consider themselves rich.

Two thirds of us would consider someone earning minimum wage (£14,040 a year) to be poor. Similarly, 41 per cent of people would consider those earning the Living Wage (£16,478 a year according to the Living Wage Foundation) "poor".

Those on the average wage (£27,600 in 2015 according to the ONS) is considered neither rich nor poor by 72 per cent of the public.

Those earning over £45,001 a year and paying the higher rate of tax (40 per cent) are considered rich by almost half of Brits (48 per cent).

Despite the majority of the public saying those that earn over £50,00 a year are "rich" and those people being in the top 15 per cent of earners, 90 per cent of people in this bracket don't consider themselves rich.

The survey took into account individual earnings, so doesn't account for varying costs of living, such as what part of the country you in or whether you have children.

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