UK people save 7% of their disposable income, according to a Lloyds TSB survey. An average household in the UK has over £5,000 in savings and investments, which has fallen by around £600 in the last year. This compares with Germany, where the average amount of savings per family unit is £8,600 and China, where it is a staggering £19,300 – 47% of their disposable income! Furthermore this figure in China has grown by 7% in the last year.
In the UK 1 in 9 families have no savings, whereas in China it is 1 in 30 – this indicates a combination of the change to a credit culture in the UK and the lack of social welfare benefits in China. In communist China 60% of adults own shares or collective investments, far more than Germany and the UK.