15 million Britons on the breadline

11 April 2014

You know how those cackling gannets in the House of Commons keep telling us the economy is improving? Well, instead, let’s hear from the 15 million households in the UK who are ‘living on the edge.’
Steptoe 2

That’s not living on the edge in an exciting rock and roll kind of way, like say, Jon Bon Jovi or Axel Rose. Instead, we’re barely making ends meet, and according to debt charity StepChange, it’s not just a problem for the scrounging, big screen telly-watching, Bingo playing underclass - millions of ‘hardworking families’ are falling behind on bills, relying on credit and suffering anxiety about job security.

Stepchange say that three million people are in ‘a spiral of debt’, borrowing to keep up their credit repayments. And a separate survey, by mortgage insurer Genworth, said that there are twice as many financially vulnerable households in the UK than solvent ones. Also, 41% of those surveyed said they were stressed about money.

And, Stepchange has also discovered that 13 million people would not have enough savings to last for a month, even if their income dropped by just a quarter.

*expires face down in a bowl of gruel*

TOPICS:   Banking   Investments   Debt   Credit Cards   Economy

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