§ Mr. RuaneTo ask the Chancellor of the Exchequer if he will list the average savings per person expressed as a percentage of take-home pay for each of the past 10 years. [110168]
§ Mr. Timms[holding answer 15 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 Mr. Chris Ruane, dated 16 February 2000:
As Director of the Office for National Statistics, I have been asked to reply to your question on average savings per person expressed as a percentage of take home pay.The precise information requested is not available. However, the households' saving ratio is considered to provide the best available indicator of trends in changes in saving rates. This is derived as the ratio of savings to the total of resources available (more commonly known as disposable income) of the combined households and non-profit institutions serving households (NPISH) sector.The households' saving ratio is published quarterly in the ONS First Release, "Quarterly National Accounts". The series is held on the ONS database. All sources are available in the House of Commons library.