National Statistical

The latest ONS estimate values the ‘human capital’ of the United Kingdom at £21.4 trillion.  It’s a staggering figure but what does it mean? Put simply, human capital  is the economic value of the skills, knowledge and experience of the UK workforce.  Richard Tonkin explains how the figures are put together and how the ONS plans to take a far broader view of human capital in the future.

The ONS produces an annual assessment of how the UK’s tax and benefits system impacts the incomes of UK households. Measuring the incomes of the whole population presents particular challenges and recently our findings have come under scrutiny. Here Richard Tonkin explains how the ONS estimates are produced and the improvements under way to make sure they remain reliable.

ONS is in the midst of an important programme of transformation. Not only are we improving our current statistics but also developing new economic indicators. These go beyond the traditional headline measure of GDP to provide broader measures of our economy and society. Richard Tonkin presents a handy guide to the innovative outputs about to emerge.