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 £3.97 a day on water, electricity, and gas.
- 322 people a day were declared insolvent or bankrupt in England and Wales in February 2023 to March 2023. This was equivalent to one person every 4 minutes & 28 seconds.
- In Northern Ireland in April 2023, there were 3.7 insolvencies per day and in Scotland in the three months to March 2022 there was 21.2 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 2,170 debt issues every day in the year to March 2023.
- 8.3 properties were repossessed every day in January to March 2023 in the UK, or one every 2 hours and 53 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance rose by 2.5 a day in the year to March 2023.
- The number of people unemployed in the UK fell by 255 per day in the twelve months to January 2023.
- 1,076 people a day reported they had become redundant in October to December 2022.
- Net lending to individuals and housing associations in the UK grew by £2.1 million a day in March 2023.
- Government debt increased by £642 million a day in the three months to April 2023.
- Borrowers paid £167 million a day in interest in March 2023.
- 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.
- 44.8 mortgage possession claims and 9.9 mortgage possession orders were made every day in England and Wales in October to December 2022.
- 259.9 landlord possession claims and 74.2 landlord possession orders were made every day.
The percentage of households in England and Wales who report that mains gas central heating was the only central heating source in their home (ONS).
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:
50%
The percentage of Christians Against Poverty clients who have considered or attempted suicide as a way out of debt (Christians Against Poverty).
35,612
The number of mortgage approvals in the UK in December 2022. This is down from 74,425 in August 2022 (Money.co.uk).
61%
The percentage of Christians Against Poverty clients who can’t afford basic toiletries such as soap, toothpaste and sanitary items (Christians Against Poverty).
1%
The fall in monthly gas prices between March and April 2023, which is the first time since October 2020 that monthly gas prices have fallen. This was compared with a rise of 66.8% between the same two months a year ago, according to the latest annual inflation rate (ONS).
9.3%
The decrease in first-time home buyers in the UK since 2021. Over 2022, there were 370,287 first-time buyers in the UK (Money.co.uk).
54%
The percentage of Christians Against Poverty clients who have sacrificed meals at least monthly (Christians Against Poverty).
Statistics Source: http//www.themoneycharity.org.uk
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