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Personal Savings

Volume 281: debated on Wednesday 17 July 1996

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To ask the Chancellor of the Exchequer what percentage of personal savings are held in (a) retail banks, (b) building societies, (c) life companies, (d) friendly societies and (e) other institutions; and what were the corresponding figures 10 years ago. [36465]

Details of personal sector financial assets are published in table 9.1J of "Financial Statistics". The information is also held on the Office for National Statistics database which has recently been updated to 1996 Q1, and includes revisions to earlier years' data. These figures will be included in the July issue of "Financial Statistics" which will be published on 19 July. Both sources are available in the Library. There are no separate data for savings with friendly societies, which are included under life assurance and pension funds. Estimates of the percentage of personal assets held in various savings media in 1985 and 1995 are as follows:

Deposits with banks9.910.0
Deposits with building societies16.110.5
Life assurance and pension Funds45.149.1
Amounts deposited with building societies have been affected by building societies converting to, and being taken over by, banks.