The pandemic leaves 27% of British adults struggling financially
CNNLondon CNN Business — The pandemic has left more than a quarter of British adults financially vulnerable, with too much debt or not enough savings to cope with a “negative life event” such as redundancy, loss of hours, or ill health. The survey also found that nearly 40% of British adults suffered financially as a consequence of the pandemic, with younger workers, Black people and the self-employed among the hardest hit. The number of Britons showing “characteristics of vulnerability” swelled to 27.7 million, climbing by 3.7 million — or 15% — between March and October 2020, the FCA said. “Since the start of the pandemic, the number of people experiencing low financial resilience or negative life events has grown,” Nisha Arora, director of consumer and retail policy at the FCA, said in a statement.
History of this topic
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