Everyday in the UK
Personal Debt in the UK
The population of the UK shrunk by an estimated 1,584 people a day between mid-year 2021 and mid-year 2022.
- On average, a UK household spends £3.44 a day on water, electricity, and gas.
- 332 people a day were declared insolvent or bankrupt in England and Wales in May to July 2024. This was equivalent to one person every 4 minutes and 20 seconds.
- In Northern Ireland in the three months to June 2024, there were 4.5 insolvencies per day. In Scotland in the three months to June 2024 there was 22.3 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 1,223 debt issues every day in the year to July 2024.
- 10.77 properties were repossessed every day in April to June 2024 in the UK, or one every 2 hours and 20 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance increased by 38.8 a day in the year to June 2024.
- The number of people unemployed in the UK increased by 68 per day in the twelve months to June 2024.
- 1,173 people a day reported they had become redundant in April to June 2024.
- Net lending to individuals and housing associations in the UK grew by £121 million a day in June 2024.
- Government debt increased by £524 million a day in in the three months to July 2024.
- Borrowers paid £215 million a day in interest in July 2024.
- It costs an average of £25.28 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 £33.54 per day.
- 55.8 mortgage possession claims and 35.2 mortgage possession orders were made every day in England and Wales in April to June 2024.
- 262.7 landlord possession claims and 198.5 landlord possession orders were made every day.
Arising from the current climate
The UK has undergone a significant degree of political and financial turmoil over the past few years. The pandemic and ongoing cost of living and energy crises, among other events, have affected the lives and finances of many people across the UK. Following are some striking statistics, curated over the last few weeks to reflect the situation as it evolves:
46.39 hours
The average time spent in part-time work each month by university students in 2024, an increase of 153% on 2023 (NatWest).
£1,713.62
The predicted Energy Cap for Q4 2024, a 9.3% increase on the July to September rate of £1,568 (Cornwall Insight)
77%
The percentage of individuals who do not know how much money they will need in retirement (Pensions and Lifetimes Savings Association).
6,275
The number of Local Authority property sales to tenants in the year 2023-2024. This is a 64% decrease on the 2007 high of 17,684 despite maximum discounts increasing in the following years (GOV.uk).
74.5%
The employment rate for individuals aged between 16-64 in April to June 2024; a 0.7% decrease on the same period in 2023 (ONS).
30.4 million
UK employees on a payroll in July 2024, an increase of 24,000 on the previous month (ONS).
£136.03
The average housing benefit payment in May 2024; the Local Authority with the highest average payment was Brent (£231.95) and lowest was Falkirk (£79.23) (DWP).
Statistics Source: http//www.themoneycharity.org.uk
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