Everyday in the UK
Personal Debt in the UK
The population of the UK grew by an estimated 151 people a day between 2020 and 2021.
- On average, a UK household spends £4.17 a day on water, electricity, and gas.
- 262 people a day were declared insolvent or bankrupt in England and Wales in July 2023 to September 2023. This was equivalent to one person every 5 minutes and 20 seconds.
- In Northern Ireland in July 2023, there were 4.2 insolvencies per day. In Scotland in the three months to March 2023 there was 21.2 insolvencies per day.
- Citizens Advice Bureaux in England and Wales dealt with 992 debt issues every day in the year to October 2023.
- 6.7 properties were repossessed every day in April to June 2023 in the UK, or one every 3 hours and 35 minutes.
- The number of UK mortgages with arrears of over 2.5% of the remaining balance increased by 20.5 a day in the year to June 2023.
- The number of people unemployed in the UK increased by 658 per day in the twelve months to July 2023.
- 1,109 people a day reported they had become redundant in May to July 2023.
- Net lending to individuals and housing associations in the UK grew by £14.8 million a day in September 2023.
- Government debt increased by £442 million a day in in the three months to October 2023.
- Borrowers paid £189 million a day in interest in August 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.
- 43.8 mortgage possession claims and 8.6 mortgage possession orders were made every day in England and Wales in April to June 2023.
- 247.7 landlord possession claims and 62.2 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:
31%
The percentage by which gas prices fell in the year to October 2023. Electricity prices fell by 15.6%. These are the lowest annual inflation rates since records began in January 1989 (ONS).
3.1%
The Bank of England’s forecast for the Consumer Price Inflation rate in the last quarter of 2023, with the eventual target being 2% (House of Commons).
0.3%
The percentage by which sales volumes dropped in October 2023. This is following a 1.1% drop in September. Sales have now fallen to their lowest level since February 2021, when lockdown restrictions on non-essential retail were still in place across the country (ONS).
1.5 million
The number of food parcels provided by the Trussell Trust between April and September 2023, a record high for this period, and a 16% increase from the same period in 2022 (The Trussell Trust).
38%
The percentage of adults who pay energy bills who said it was very or somewhat difficult to afford them. This was compared with 47% during a similar period one year ago (26 October to 6 November 2022) (ONS).
£98.3 billion
The total amount of money borrowed by the government since the start of the financial year. That is £21.9bn more than a year earlier, but less than the £115.2 billion that was forecast by the UK’s independent fiscal watchdog, the Office for Budget Responsibility (OBR), in March (BBC).
Statistics Source: http//www.themoneycharity.org.uk
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