Dáil Éireann Debate, Tuesday - 5 November 2013
111. Deputy Thomas P. Broughan asked the Taoiseach further to Parliamentary Question No. 37 of 15 October 2013, if he will provide details on the nature of the survey to be undertaken by the Central Statistics Office as part of its Household Finance and Consumption Survey referred to in that reply. [45423/13]
View answerThe Household Finance and Consumption Survey (HFCS) is a household survey which is being conducted by the Central Statistics Office as part of a programme of similar surveys in Eurozone countries. The survey covers households usually resident in Ireland and the main topic headings covered in the survey are:
1. Socio-demographic data (age, gender, education achieved, marital status, household composition etc.)
2. Real assets and their financing (mortgages and loans, property, cars, jewellery etc.)
3. Other liabilities/credit constraints (lease payments, credit lines, overdrafts, credit cards etc.)
4. Private businesses and financial assets (business ownership, interests in business etc.)
5. Employment (occupation, job status etc.)
6. Pension and insurance policies
7. Income (employee, self-employed, transfer payments etc.)
8. Intergenerational transfers as gifts
9. Consumption (how much spent on food/beverage in the month etc.)
The main aim of the HFCS is to provide structural information on households’ assets and liabilities, based on a representative sample of households. This will address gaps in knowledge about the economic well-being of households, the distribution and type of wealth (and liabilities) among households and individuals, as well as the factors that affect financial planning by households and individuals.
Work began on the survey in 2012 and the main field work was done between March and September 2013. In total the CSO collected data from approximately 5,250 households across the country. The HFCS data is currently being processed and first results are due to be released in mid-2014.
The total cost of the survey over the period 2012 to 2014 is estimated to be approximately €1,357,000 of which the Central Bank will pay €990,000. The remaining €367,000 is being covered from the CSO Vote.
Under the Statistics Act, 1993 the survey data collected on individuals and households is confidential and may only be used for statistical purposes.
