Tuesday, April 25, 2017

ONS releases - UK public sector finances: Mar 2017, Effects of taxes and benefits on UK household income: financial year ending 2016, Deaths registered in England and Wales, provisional: week ending 14 Apr 2017

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25 April 2017


Economy

UK public sector finances: Mar 2017

Public sector net borrowing (excluding public sector banks) decreased by £20.0 billion to £52.0 billion in the financial year ending March 2017 (April 2016 to March 2017), compared with the financial year ending March 2016; this is the lowest net borrowing since the financial year ending March 2008.

The Office for Budget Responsibility (OBR) forecast that public sector net borrowing (excluding public sector banks) would be £51.7 billion during the financial year ending March 2017.

Public sector net borrowing (excluding public sector banks) increased by £0.8 billion to £5.1 billion in March 2017, compared with March 2016; this is the highest March borrowing since 2015.

Public sector net debt (excluding public sector banks) was £1,729.5 billion at the end of March 2017, equivalent to 86.6% of gross domestic product (GDP); an increase of £123.5 billion (or 3.0 percentage points as a ratio of GDP) on March 2016.


People, population and community

Effects of taxes and benefits on UK household income: financial year ending 2016

In the financial year ending 2016, the average income of the richest fifth of households before taxes and benefits was £84,700 per year, 12 times greater than that of the poorest fifth (£7,200 per year). An increase in the average income from employment for the poorest fifth of households has reduced this ratio from 14 to 1 in the financial year ending 2015.

The ratio between the average income of the top and bottom fifth of households (£63,300 and £17,200 respectively) is reduced to less than 4 to 1 after accounting for benefits (both cash and in kind) and taxes (both direct and indirect).

On average, households paid £7,800 per year in direct taxes (such as Income Tax, National Insurance contributions and Council Tax), equivalent to 18.7% of their gross income. Richer households pay higher proportions of their income in direct taxes than poorer households.

Deaths registered by area in England and Wales, monthly provisional: Mar 2017

The provisional number of deaths registered in England and Wales in March 2017 was 48,615; this represents an increase of 889 deaths in comparison with the previous month and a decrease of 25 deaths in comparison with the same month in 2016.

Deaths registered in England and Wales, provisional: week ending 14 Apr 2017

The provisional number of deaths registered in England and Wales in the week ending 14 April 2017 (week 15) was 8,493; this represents a decrease of 1,446 deaths registered in comparison with the previous week (week 14).

The average number of deaths for the corresponding week over the previous 5 years was 10,624.

The decrease in the deaths registered in the week ending 14 April 2017 is likely to be due to the closure of register offices over the Easter period. This pattern is similar to previous years.


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