The Distribution of Assets, Income and Liabilities Across UK Households: Results from the 2005 Nmg Research Survey
10 Pages Posted: 21 Mar 2006 Last revised: 25 Sep 2010
Date Written: 2006
This article summarises the key results from the latest survey carried out for the Bank by NMG Research about the state of household finances. A relatively small proportion of households accounted for a large amount of the assets owned, income earned and debts owed by the whole sample. The majority of households appeared to be comfortable with their finances. But there were a small number of households who appeared to be in distress: typically they had below-average incomes and no or not many assets to draw on. The proportion of the sample in financial distress was little changed from a year earlier. The survey indicated that very few people viewed bankruptcy as a solution to debt problems.
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