Written answers

Tuesday, 2 October 2012

Department of Finance

Household Debt Statistics

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
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To ask the Minister for Finance if he will provide in tabular form household debt as a percentage of household income for each year from 1992 to 2011. [41516/12]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
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Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household income are taken from the quarterly Institutional Sector Accounts produced by the CSO. They represent all income earned by households in a particular quarter. These figures have been annualised.

Both of these series only began in 2002. Also, caution is required when interpreting the data as these figures come from two different sources that may not be directly comparable.

-
Debt
(€m)
Income
(€m)
Ratio
2002
75,074
69,744
1.08
2003
88,383
74,799
1.18
2004
112,917
81,287
1.39
2005
143,919
89,377
1.61
2006
175,531
96,961
1.81
2007
200,954
105,284
1.91
2008
213,635
107,010
2.00
2009
209,382
94,538
2.21
2010
197,867
89,167
2.22
2011
191,469
90,479
2.12
2012*
188,473
91,112
2.07

* Only data for the 1st quarter are available

Photo of Pearse DohertyPearse Doherty (Donegal South West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

To ask the Minister for Finance if he will provide in tabular form household debt as a percentage of disposable household income for each year from 1992 to 2011. [41517/12]

Photo of Michael NoonanMichael Noonan (Limerick City, Fine Gael)
Link to this: Individually | In context | Oireachtas source

Figures on household debt are taken from the Central Bank’s Quarterly Financial Accounts - Table 8.1b - total liabilities outstanding of households and non-profit institutions serving households. These figures are presented quarterly, so the fourth quarter figures have been used with the exception of 2012. Figures for household disposable income are taken from the quarterly Institutional Sector Accounts produced by the CSO. They represent all income earned by households in a particular quarter plus net current transfers. These figures have been annualised.

Both of these series only began in 2002. Also, caution is required when interpreting the data as these figures come from two different sources that may not be directly comparable.

-
Debt
(€m)
Disposable Income
(€m)
Ratio
2002
75,074
64,206
1.17
2003
88,383
67,631
1.31
2004
112,917
73,309
1.54
2005
143,919
80,723
1.78
2006
175,531
87,098
2.02
2007
200,954
94,805
2.12
2008
213,635
100,444
2.13
2009
209,382
93,509
2.24
2010
197,867
89,180
2.22
2011
191,469
87,621
2.19
2012*
188,473
87,944
2.14

* Only data for the 1st quarter are available

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