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The cumulative wealth of the richest people in the UK has increased compared to last year, according to British newspaper the Sunday Times.

The annual survey, known as the Rich List, shows that the combined financial worth of the 100 wealthiest men and women in Britain now tops $675bn, a rise of 4.7 per cent since 2011.

The report comes with Britain's economy struggling and reported to be headed for a double-dip recession.

Even so, the editor of the Rich List 2012 says the increase in the wealth of the UK’s wealthiest could be good news for everyone.

Al Jazeera’s Peter Sharp reports from London.

Source: Al Jazeera