Household disposable income is about 60 of national income in China, and the household savings rate is close to 30 of disposable income.

Low and middle income families will benefit from a notable increase in disposable income.

(a) Estimates of gross national income

Moreover, India has the highest household savings rate in Asia, at 32 of disposable income.

Current earmarkings are based on gross national income (GNI) per capita for 2001.

An investment of 2.5 billion is anticipated over a period of five years to put in place measures to significantly increase the disposable income and improve the living conditions of low income households.

a Low income GNI per capita of 735 and less.

Given the varying degrees of industrialization and levels of income across developing countries, the scope for producing similar but differentiated products seems limited.

We repeat the goal is only 0.7 per cent of gross national income.

The fishing industry contributes 1.3 per cent to the Territory's GDP.

In 2013, as transfer payments are phased out, however gradually, and as some tax cuts are allowed to expire, disposable income growth and consumption growth will slow.

For many low income countries, remittances as a share of GDP and imports are larger than in the case of middle income countries.

Total income for 2004 amounted to US 1,001.2 million.

We are encouraged by efforts to meet the goal of 0.7 per cent of gross national income for ODA.

First, the scale for 2007 2009 should be based on the most current available GNI data.

Rather, growth in disposable income (and thus in consumption) has been sustained since last year by another 1.4 trillion in tax cuts and extended transfer payments, implying another 1.4 trillion of public debt.

Lower middle income GNI per capita between 736 and 2,935.

c 2003 per capita GNI estimate based on United Nations Statistics Division data.

However, although GNI was the best approximation of capacity to pay, it was not the only one.

The huge surge in the GDP growth rate of the more diversified economies brought overall per capita income up to its highest rate of 2.7 per cent.

As for fiscal measures, the empirical evidence suggests that three quarters of consumption is based on longer term economic prospects, not short run disposable income.

Countries have long used national income accounts, with GDP as the main indicator, to describe economic performance.

The current shocks to GDP have led to falling levels of per capita income and brought widespread poverty.

The US federal deficit is an alarming 12 of GDP, and public debt as a share of national income is already projected to double, to 80 of GDP.

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According to the economist Nora Lustig, between 2000 and 2010, income inequality declined in all 17 Latin American countries for which comparable data exist.

There is no doubt that these capacities and opportunities are determined in great part by disposable income levels, since they determine access to goods and services necessary to maintain a decent standard of living.

In low income countries, half of all health care spending (about 2.5 of GDP) is out of pocket (compared to 2 in middle income countries).

Since after tax personal income accounts for about 75 of GDP, a household saving rate of 6 translates into just 4.5 of GDP.

The European Union has now set a clear timetable to achieve the 0.7 per cent target for aid.

The Only Game in Town

Shifting income from those who would spend it to those who won t lowers aggregate demand.

But, despite their robust base and low administrative costs, excise taxes currently amount to less than 2 of low income countries GDP, compared to roughly 3 in high income countries.

From the outset, we have led the efforts to increase this assistance to 0.7 per cent of gross national income by 2015.

First, front loaded fiscal austerity however necessary is accelerating the contraction, as higher taxes and lower government spending and transfer payments reduce disposable income and aggregate demand.

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This is a clear positive adjustment to redistribute the reduced income available under the conditions of the last five years, at the cost, however, of a major reduction in labour productivity.

As stated in paragraph 1, the recalculation uses 2003 per capita GNI and population data.

It had no objection to the use of GNI data covering periods up to 2004 in preparing the scale of assessments for 2007 2009.

To correct this, China needs to boost its people s sense of future financial security and affect a rise in private income commensurate with GDP growth.

In the US, the poorest 20 of households receive just 5 of total income, putting their income at around one fourth of the national average.

As such, we welcome the recommitment to the Monterrey and Johannesburg outcomes and the renewed emphasis upon the achievement of the target of 0.7 per cent of gross national income for official development assistance.

However, the principal element of the methodology should continue to be capacity to pay, the most accurate reflection of which was gross national income (GNI).

Similarly, broadening the range of available savings instruments could raise household disposable income and increase consumption.