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 1,055 debt issues every day in the year to August 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 £83 million a day in August 2023.
- Government debt increased by £311 million a day in in the three months to September 2023.
- Borrowers paid £184 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:
The percentage of full-time employees who have reported that they are feeling worried about money. 28% of full-time employees report they aren’t confident they’d be able to cover expenses for one month if they couldn’t work due to illness (Vitality).
The percentage of families who missed an essential payment (such as housing, bill, loan or credit card payment) in the month leading up to 8th September. This compares to just 5% of those with no children (Which?).
The percentage of working parents in London who have reported skipping meals or not buying food for themselves so their children could eat. 11% of London’s working families have also reported having less than £3 a day to spend on food (The Felix Project).
The amount per week ‘lost’ by families affected by the two-child benefit cap. One in 10, or 1.5 million children, live in families affected by the two-child limit (University of York).
The proportion of households living in fuel poverty who are ineligible for government cost of living support (University of York).
The percentage of UK adults who are going without electricity or gas at least monthly (Christians Against Poverty).
The percentage of UK adults who are losing sleep on a monthly basis due to worries about the cost of living (Christians Against Poverty).
Statistics Source: http//www.themoneycharity.org.uk
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