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Personal Savings

Volume 467: debated on Tuesday 13 November 2007

To ask the Chancellor of the Exchequer what the (a) net and (b) gross rate of (i) household and (ii) national savings was in each year since 1997. (162307)

The information requested falls within the responsibility of the National Statistician, who has been asked to reply.

Letter from Colin Mowl, dated 13 November 2007:

The National Statistician has been asked to reply to your recent question asking what (a) the net and (b) the gross rate of (i) household and (ii) national savings was in each year since 1997.

Relevant information is shown in the table attached. In the UK National Accounts, following international guidelines, the household sector is combined with the non-profit institutions serving households sector (NPISH), and it is not possible to separate the two. Examples of institutions included within the NPISH sector are: charities; trade unions; universities; churches and political parties.

Net savings are calculated as gross saving less the consumption of fixed capital (depreciation).

Table 1: gross and net savings for the household and NPISH; and UK sectors

£ million

Household and NPISH gross savings (NSSH)

Household and NPISH consumption of fixed capital (QWLL)

Household and NPISH net saving (NSSI)

UK gross saving (NQET)

UK consumption of fixed capital (NQAE)

UK net saving (NQEJ)

1997

54390

23704

30686

142061

95179

50126

1998

41844

25053

16791

158257

98961

63206

1999

33136

27976

5160

146294

105507

45239

2000

33584

30518

3067

147613

111251

41241

2001

45137

32908

12228

156483

115796

46049

2002

36301

36043

258

167161

121914

51154

2003

37421

36903

518

175725

125553

56486

2004

29307

42509

-13059

187751

135184

59324

2005

46745

43257

4122

186347

138354

55254

2006

43913

48623

953

193751

147720

57449

Source:

UK National Accounts—The Blue Book 2007

http://www.statistics.gov.uk/statbase/Product.asp?vlnk=1143