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.
- 333 people a day were declared insolvent or bankrupt in England and Wales in June 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 4.1 insolvencies per day. In Scotland in the three months to March 2024 there was 20.7 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 1,214 debt issues every day in the year to June 2024.
- 9.5 properties were repossessed every day in January to March 2024 in the UK, or one every 2 hours and 30 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance increased by 54.5 a day in the year to March 2024.
- The number of people unemployed in the UK increased by 364 per day in the twelve months to March 2024.
- 1,065 people a day reported they had become redundant in March to May 2024.
- Net lending to individuals and housing associations in the UK grew by £97.67 million a day in May 2024.
- Government debt increased by £524.6 million a day in in the three months to June 2024.
- Borrowers paid £213 million a day in interest in May 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.
- 56.9 mortgage possession claims and 34 mortgage possession orders were made every day in England and Wales in January to March 2024.
- 273.3 landlord possession claims and 199.5 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:
£900
The average Universal Credit payment in February 2024 (GOV.UK).
300,000
The estimated number of children that would be lifted out of poverty by the removal of the two-child limit on benefits (CPAG).
39%
The percentage of individuals (equivalent to 13 million people) between 22 and the State Pension age estimated to be under-saving for retirement (Resolution Foundation).
889,000
Job vacancies between April and June 2024; this figure has fallen 1.7% compared to revised figures on the previous quarter (ONS).
44%
The percentage of individuals earning over £71,250 who can afford to purchase their first home in their local area (Skipton Group).
7 out of 10
The number of children living in poverty with at least one parent in paid work (CPAG).
49,000
The number of working days lost to labour disputes in May 2024 (ONS).
9.4%
The decrease in online sales volumes for department stores in June 2024, the greatest monthly decrease across all online sales. Total retail volumes are reported to have fallen by 1.2% in June 2024, following a 2.9% rise in May (ONS).
Statistics Source: http//www.themoneycharity.org.uk
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