Nearly half of families forced into debt since start of pandemic, figures show

Industry News | 23/11/20

Nearly half of families with children have been forced into some form of debt since the start of the pandemic, prompting warnings that Britain risks becoming a nation “surviving on credit”.

New figures seen by The Independent show that almost 18 million people, a third of the population, have had to use credit cards, go into their overdraft or borrow from friends and family since March.

The research, based on a survey of more than 2,000 people commissioned by debt charity Turn2Us, reveals that this applies to 45 per cent of households with children – meaning around 3.6 million families have been pushed into debt.

It comes following a stark warning from the UK’s human rights watchdog that the government must prioritise children’s rights and do more to protect them from the “devastating” economic and psychological impact of the pandemic.

Source: The Independent