§ Mr. St. AubynTo ask the Chancellor of the Exchequer what is his most recent estimate of household savings(a) as a percentage of gross domestic product and (b) in nominal cash terms; and what were the comparable figures for each year since May 1997. [110091]
§ Mr. Timms[holding answer 14 February 2000]: The information requested falls within the responsibility of the Director of the Office for National Statistics. I have asked him to reply.
Letter from Tim Holt to Nick St. Aubyn, dated 16 February 2000:
As Director of the Office for National Statistics (ONS), I have been asked to reply to your recent question on household savings.The figures you requested are tabulated below. The latest year available is the twelve month period to September 1999. National accounts are prepared quarterly and the closest period to May 1997 for which there are data is the period April 1997 to March 1998.Estimates for household saving and GDP are published quarterly in the ONS First Release "Quarterly National Accounts", and the data are held on the ONS database—all sources being available in the library.
Household saving 1 (at current prices) £ billion Household saving 1 as a percentage of gross domestic product Percentage Database identifier: RPQL RPQL/YBHA April 1997 to March 1998 50.3 6.2 April 1998 to March 1999 32.9 3.8 October 1998 to September 1999 34.8 4.0 1 Household saving includes saving of non-profit institutions serving households. Separate data for the household sector are not available.