Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions he has had with the ONS on the potential merits of the ONS producing official statistics on average savings per household.

The ONS publishes official aggregate data on household finances, including savings, as part of the UK Quarterly National Accounts. Latest data for Q1 2022 shows total household currency and deposits (a measure of household savings) were around £2 trillion.

The ONS also publishes data at an individual household level measuring household wealth as part of the Wealth and Assets Survey. This survey measures the well-being of households and individuals in terms of their assets, savings, debt and planning for retirement, with the latest data covering the period April 2018 to March 2020.

The ONS routinely engage with users of official statistics and review existing publications on an ongoing basis.