Around 11 million people in the UK are struggling to pay their bills.
It has been reported that around 11 million people in the UK are struggling to pay their bills.
In the statement from the British supervisory agency, the Financial Management Authority (FCA), it was indicated that the number of people struggling to pay their bills in the country reached 10.9 million in January this year, according to the agency investigation.
According to the FCA statement, the number of people who have difficulty paying their bills in the country was 7.8 million in May last year.
It is stated in the statement that approximately 28 million of the country’s population lives under intense stress due to their debts, and the number of people who cannot make their loan and bill payments on time at least three times in 6 months increased by 1.4 million in January this year compared to May last year and reached 5.6 million.
In the statement, it was also indicated that approximately 6.2 million people in the country had to cancel their insurance policies as of January last year due to the increase in the cost of living.
LOOKING FOR WAYS TO REDUCE YOUR EXPENSES
“Our research shows the real impact of rising cost of living on the public’s ability to pay their bills,” said Sheldon Mills, FCA Director of Consumer and Competition.
“We will continue to move quickly to enable financial institutions to assist customers who are facing financial hardship or are concerned that it may be imminent,” Mills said.
In another study conducted by HSBC, one of the country’s leading banks, it was stated that approximately 78 per cent of the population were looking for a way to reduce their expenses in some way.
According to the research, about 45 percent of the country’s citizens prefer to shop at discount markets and try to reduce their mandatory spending.
Jose Carvalho, Head of Wealth and Personal Banking at HSBC, said: “The rising cost of living continues to have an impact on many people.”
THE NUMBER OF FOOD AID RECEIVED REACHES 3 MILLION
Noting that he visited a food bank in the city of Exeter yesterday, Bank of England Governor Andrew Bailey said: “It is clear that many people face difficult choices and have to reduce their essential needs.”
According to the annual report from the Trussell Foundation, which operates more than 1,600 food banks and food distribution points across the UK, food parcels have been delivered to approximately 3 million people, 760,000 of whom are for the first time. time in the last year.
RECORD IN HOUSING RENTAL IN LONDON
British online real estate company Rightmove reported last month that the average rent for a house in the capital London rose 14 per cent in the first quarter of this year to an all-time high of £2,501 a month.
Inflation in the UK was 10.1 percent in March. Food inflation, on the other hand, reached 19.1 percent, the highest level in 46 years.
The Bank of England (BoE) raised the policy rate for the 12th consecutive time from 4.25 percent to 4.50 percent last week to bring inflation down to the 2 percent target level. (AA)