Randomly-selected households are to be invited to take part in an important economic survey.
Part one of the Household Income and Expenditure Survey 2023-24 is a questionnaire which asks for details about sources of income for each member of the household and about household expenditure on large items and regular payments (such as direct debits) over the past year.
Part two involves keeping a diary over a two-week period of purchases made by the household.
The survey primarily uses an online questionnaire, though this can also be done over the phone, in-person at the Statistics Isle of Man office, or via a paper form.
Different households will be invited to complete the two-part survey each month, between April 2023 and March 2024, .
Statistics Isle of Man carries out the survey every five years.
It is essential in helping the government to understand the financial pressures facing residents, and to provide insight into important issues like poverty, fuel poverty and economic inequality.
It is also used as a basis to determine the amount of VAT the island receives, and to update the products used in inflation calculations so that these are representative of spending on the Isle of Man.
All households that are chosen to participate in the survey will be issued on completion a payment of £20 for one adult member of the household, £10 for each additional adult (defined as anyone in the household over 16 years of age), and £5 for each child.
Participating households will also be entered into a draw for that month with a prize of £1,000.
The Household Income and Expenditure Survey is entirely voluntary.
All responses will be treated in the strictest of confidence and will be used only to create aggregate statistics.
More information, including previous results, can be found on the Household Income and Expenditure Survey webpage.
Why is the survey important?
The Household Income and Expenditure Survey (HIES) is a critical piece of government research which will run from April 2023 until March 2024.
It is one of the most important surveys after the Census that Statistics Isle of Man undertakes on behalf of Government.
The purpose of the survey is to better understand the income sources and expenditure patterns of different types of households on the Isle of Man. In particular, three of the most important uses of the HIES are:
To help determine the amount of VAT revenue the island receives;
To ensure that inflation statistics are representative of spending on the island
To allow Statistics Isle of Man to investigate and estimate the extent of economic inequality and poverty on the island
For this reason, it is crucial that we receive a broad and representative cross-section of the Island’s population.
Statistics Isle of Man aims to survey a minimum of 1,000 households, and letters inviting households to participate will be sent out to on a rolling, monthly basis from March 2023.