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The slave trade was abolished in the British Empire in 1807 but it was not until 1833 that the Slavery Abolition Act finally banned the ownership of other human beings. However, 46,000 slave owners continued to benefit financially as the subsequent Slave Compensation Act provided £20m in payments – a sum worth billions in 2020 terms. Despite the name of the act, the former slaves were not compensated.
University College London’s Legacies of British Slave Ownership project shows that 10% to 20% of Britain’s wealthy can be identified as having had significant links to slavery. Read more HERE.