Question to the HM Treasury:

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.

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.