Everyday in the UK
Personal Debt in the UK
The population of the UK grew by an estimated 777 people a day between 2019 and 2020.
- On average, a UK household spends £4.31 a day on water, electricity, and gas.
- 327 people a day were declared insolvent or bankrupt in England and Wales in April 2022 to June 2022. This was equivalent to one person every 4 minutes & 25 seconds.
- In Northern Ireland in April 2022, there were 4.5 insolvencies per day and in Scotland in the three months to March 2022 there was 21.0 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 2,033 debt issues every day in the year to May 2022.
- 6.4 properties were repossessed every day in January to March 2022 in the UK, or one every 3 hours and 43 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance rose by 22.8 a day in the year to March 2022.
- The number of people unemployed in the UK fell by 986 per day in the twelve months to May 2022.
- 554 people a day reported they had become redundant in March to May 2022.
- Net lending to individuals and housing associations in the UK grew by £224.6 million a day in May 2022.
- Government debt increased by £433 million a day in the three months to July 2022.
- Borrowers paid £131 million a day in interest in June 2022.
- It costs an average of £24.44 per day for a couple to raise a child from birth to the age of 18.
- For a lone parent family, the cost of raising a child comes to £29.50 per day.
- 32.1 mortgage possession claims and 25.5 mortgage possession orders were made every day in England and Wales in January to March 2022.
- 211 landlord possession claims and 144.2 landlord possession orders were made every day.
Arising from Coronavirus pandemic
During the pandemic, health, economic and policy impacts have interacted with each other. The UK is also currently facing a worsening cost of living crisis – with rising inflation arguably linked to pandemic-related economic disruption. Following are some striking numbers that have emerged in the last few weeks:
The percentage of UK adults who now report that their cost of living has increased, equal to around 46 million people. This is compared to November 2021, when only 6 in 10, or 32 million adults, reported an increase in costs (ONS).
The proportion of UK adults it is estimated will be unable to pay their energy bills after the next energy price cap review in October 2022. This estimate increases to 1 in 3 UK adults by January 2023 (Citizen’s Advice).
The proportion of UK parents who are expected to rely on foodbanks in coming months (Trussell Trust).
The increase in sales of own-brand value products in the month leading up to August 7 at UK supermarkets as consumers seek to bring down the cost of their shopping bills (Kantar).
The percentage of UK adults who have reported an increase in the price of their food shop. 82% reported an increase for gas and electricity bills, and 77% reported an increase in the price of fuel (ONS).
The proportion of people living in deprived areas who report using credit (such as credit cards, loans or bank overdrafts). The percentage of people using credit in the least deprived areas falls to 8%, while the proportion for England is 13% (ONS)
Statistics Source: http//www.themoneycharity.org.uk
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