Transcript Separating out Households and NPISH data in the National Accounts

Separating out Households and NPISH
data in the National Accounts
Sarah Crocker
Household and NPISH Development
[email protected]
Introduction
•
Households and Non-Profit Institutions Serving
Households (sectors S.14 and S.15) are currently
published together.
•
ESA 2010 requirement to present these sectors as
two separate and distinct sectors.
•
Huge policy need, and NPISH sector ~3% of GDP
Who are households?
Individuals or groups of individuals as consumers
and as entrepreneurs producing market goods
and non-financial and financial services (market
producers)
What is NPISH?
• NPISH stands for Non Profit Institutions Serving
Households and is defined in ESA10 as:
The Sector Non-Profit Institutions Serving Households (S.15) consists
of non-profit institutions which are separate legal entities, which serve
households and which are private non-market producers.
Their principal resources are voluntary contributions in cash or in kind
from households... from payments made by general government and
from property income.
Religious
Orgs
Charities
Higher
Education
Trade
Unions
Political
Parties
Further
Education
The Sequence of Accounts
•
Production Account
- Output
- Intermediate consumption
•
Income Accounts
- Compensation of Employees
- Taxes and subsidies
- Property Income
- Social benefits and contributions
- Other current transfers
•
Capital Account
- Investment grants
- Capital transfers
- Non-financial Assets
•
Financial Account and Balance Sheet
- Currency and deposits
- Securities
- Loans
- Shares
Households
10,000
NPISH
9,950
Data
Data
Financial Institutions
Private Non-Financial Institutions
Government
Total Economy
Rest of the World
Households
Data
NPISH Holdings
Wealth
andCommission
Assets Survey
e.g.
Charities
Data
Households and NPISH Combined
Residual
NPISH
Residual
Household
estimates
as a residual
Wealth and Assets Survey (WAS)
• Sample size of around to 40k individuals
• Looks at the economic well-being of households
• Gathers information on:




level of assets,
savings and debt;
saving for retirement;
how wealth is distributed among households or individuals
• Run by ONS and funded by a consortium of OGDs
• Longitudinal survey but can be used as a cross-sectional
survey
• Each wave of the survey lasts 2 years
• Limitations – Capturing the ‘super rich’
– Does not provide quarterly data
NPISH data sources
• Charities Reports submitted to Charities Commission
• Universities Annual Accounts
• Government data on Further Education colleges
• Trade Unions & Political Parties Accounts from
regulators
• Transfers between HH and NPISH –
Donations
Donated items
Transfers from NPISHs to HHs
Impact
• Ultimately this will be a useful thing
• Be interested in views on continuity – would it
be useful to still have a combined series for
context?
• Saving Ratio will change as a result of HH
only data
Any Questions?
[email protected]