British households have saved £30,000 over the last decade

A report by Lloyds TSB suggests that the average household in the UK has put away £30,000 over the last decade in shares, pensions and deposit accounts. This is a 46% increase on the figure in the 1990s although when inflation is taken into account it is reduced to a lower level of just 14%. However, even a 14% increase is in itself startling when you bear in mind the economic background of the last few years.

It would appear that the vast majority of savings, which total £800 billion throughout the UK, are a direct consequence of various tax efficient savings vehicles introduced by the UK government. It is interesting to see that more and more people are now making use of tax efficient investment vehicles and savings vehicles in their quest to build up funding for the future. It will be interesting to see how the recent economic downturn, when it eventually ends, has impacted upon the £800 billion of savings built up over the last 10 years.

When you bear in mind that the figure in question did not actually include property investment, which is by far and away the largest investment market in the UK, the £800 billion in question is even more impressive than at first glance.