Average household has just £50 spare each week

Results of income and expenditure survey studies

The average Manx household has less than £50 to spare each week.

That's according to the results of the Isle of Man Government's Household Income and Expenditure Survey.

It's a drop of more than £100 compared to the last study, published in 2013.

The figures show an average weekly income of £1,098.70 for each home during the 2018-19 financial year.

Over the same 12 months, total expenditure was at £1,049.17 - just £49.53 less than the income.

Housing, fuel and power, and transport, each accounted for 15% of household spending.

In 2013, statistics showed income was just over £150 per week lower, but expenditure was less than £800, leaving a surplus of £156.10

Just 5.7% of the 18,000 households invited to take part in the study responded.