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Wealthy parents’ greatest asset is the assets they will pass on

www.theguardian.com 29-12-2024 07:30 1 Minutes reading

As a Danish study shows, parental income determines our life chances – but in what way differs according to how rich they are

Parents shape our lives. There’s the love or its absence – and the genetics. On the financial side, academics focus on intergenerational income persistence (how much parental income determines our own) and its inverse (social mobility).

This varies between countries. Economist Miles Corak has shown that higher inequality nations tend to be less socially mobile. When the rungs on the ladder are far apart, individuals born poor struggle to climb them.

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Rolls-Royce to invest £300m in expansion of Goodwood factory

Luxury carmaker driven to meet demand for bespoke upgrades, after recording third-highest annual sales in 2024

Rolls-Royce Motor Cars has said it will invest £300m in expanding its Goodwood factory in West Sussex to meet the growing demand for bespoke upgrades, after the luxury carmaker recorded its third-highest annual sales in 2024.

The investment will extend the luxury carmaker’s manufacturing facility as it gradually moves away from V12 petrol engines to battery electric vehicles, as well as increasing its capacity to fulfil the whims of some of the world’s richest people.

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