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Family Spending

Online Catalogue | Official Publications | Non-Parliamentary Official Publications | ONS |  Family Spending


Family Spending 2019/20Family Spending 2019/20 is in stock now
Family Spending 2019/20

57.50
Average weekly household expenditure on goods and services in the UK, by age, income, economic status, socio-economic class, household composition and region.

The collection of data underpinning this bulletin spans April 2020 to March 2021 which coincides with several government regulations and policies implemented in response to the coronavirus (COVID-19) pandemic. This includes lockdowns, social distancing measures, closure of non-essential services, vaccine rollout, homeworking, and income support measures such as the Coronavirus Job Retention Scheme and Self-Employment Income Support Scheme. The combination of these policies changed the nature of how people spent their time and managed their money.

Main points
  • In the year to March 2021, average weekly expenditure for all households dropped by £106.40, coinciding with the coronavirus (COVID-19) related restrictions on social contact and economic activities; this is the largest annual fall observed in the last two decades.
  • Decreases were driven by reductions in spending on restaurants and hotels (a weekly decrease of £34.60, or 65%), recreation and culture (£29.30 less, or 39%), and transport (£20.80 less, or 25%).
  • Reductions in spending differed across the income distribution; the poorest fifth of households reduced their average weekly expenditure by £34.20 (10%), whereas the richest fifth reduced spending by £204.30 (22%).
  • Those on higher incomes spent a greater proportion of their total expenditure on recreation and culture, restaurants and hotels and transport in the financial year ending 2020, hence their total expenditure decreased more than those on lower incomes.
  • Lower-income households spent a greater proportion of their expenditure on housing, fuel and power and food and non-alcoholic drinks; spending in these categories is essential so these households were less able to cut back on their overall spending.
 
ISBN
9781804920299
Author
Office for National Statistics (ONS)
Published by
Dandy Booksellers Ltd
Publication Date
3 August 2022
Edition
2020/21
Format
Paperback
Extent
194 pages
Dimensions
A4 (210 x 297 mm)
Approx Weight
0.54 kg
HS Code
490199






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