Underprovision and exclusion applies to short and long term assets.
- The personal savings ratio is the lowest for 50 years.
- 48% of households have negligible savings – defined as less than £1,500. 28% have no savings at all. In other words nearly half the population have savings worth less than 3 weeks salary (as defined by average earnings in UK). In some parts of the UK, the situation is even worse. For example, in Northern Ireland, over 40% have no savings;
- Over 60% have no investments to speak of.