Personal Savings

Treasury written question – answered on 13th May 2022.

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Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Chancellor of the Exchequer, what estimate he has made of the average amount of savings held by each household in the UK.

Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Chancellor of the Exchequer, what estimate he has made of average household savings of each house in the UK broken down by ethnic group.

Photo of Matthew Offord Matthew Offord Conservative, Hendon

To ask the Chancellor of the Exchequer, what estimate has been made of the average amount of household savings in the UK by age group.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

Latest official Office for National Statistics (ONS) data shows total household currency and deposits (a measure of household savings) were around £2 trillion in 2021 Q4. Furthermore, in their Spring 2022 forecast, the OBR estimated that households, on aggregate, accumulated around £230 billion in additional savings between the start of 2020 and Q3 2021.

The ONS does not produce official statistics on average savings per household.

The ONS does not publish statistics on average household savings or wealth broken down by ethnic group.

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