People ‘fear falling into debt within the next six months’
One in 25 people are already in serious debt, according to the Jubilee Debt Campaign.
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.One in 16 (6%) people fear being pushed into debt in the next six months, according to an anti-poverty group.
One in 25 (4%) are already in serious debt, the Jubilee Debt Campaign found.
Nearly a fifth (19%) are in moderate debt and a further 26% are not in debt but are concerned about falling into it at some point, according to the poll of more than 2,000 people across Britain in March.
A national insurance hike to help pay for health and social care and rising energy and council tax bills will put a further squeeze on household budgets this spring.
The Office for Budget Responsibility said last week that households are facing the biggest squeeze in living standards since records started in 1956-57, with inflation potentially reaching a 40-year high of 8.7% in the fourth quarter of 2022.
Measures announced by the UK Government in last week’s spring statement to help offset surging household bills included a 5p per litre cut in fuel duty on petrol and diesel until March 2023.
An extra £500 million was also announced for the household support fund, doubling its total amount to £1 billion to support vulnerable families with short-term crisis funding from local authorities.