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 £5.20 a day on water, electricity, and gas.
- 330.6 people a day were declared insolvent or bankrupt in England and Wales in July to September 2024. This was equivalent to one person every 4 minutes and 20 seconds.
- In Northern Ireland in the three months to September 2024, there were 4.3 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 1,227 debt issues every day in the year to September 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 180 per day in the twelve months to September 2024.
- 869 people a day reported they had become redundant in July to September 2024.
- Net lending to individuals and housing associations in the UK grew by £133.5 million a day in August 2024.
- Government debt increased by £518.6 million a day in in the three months to September 2024.
- Borrowers paid £220 million a day in interest in August 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:
0.3%
The percentage growth in retail sales volumes in September 2024. This is down from a 1.0% increase in August (ONS).
£31.1 billion
The estimated total value of ‘lost’ pension pots. Almost 3.3 million pension pots are now considered lost, containing an average sum of £9,470 (PPI).
21.8%
The economic inactivity rate for people aged 16-64 in the UK between June and August 2024. This is down on the previous quarter and the lowest level since July 2023 (ONS).
£1.17 billion
The total amount lost to fraud in 2023 across 2.97 million confirmed cases, with an average loss per scam of £393 (UK Finance).
1 in 10
The number of people who do not feel confident in using the internet for online banking and managing their finances, rising to 18% for people without broadband access. (Good Things Foundation).
58%
The proportion of Universal Credit claimants who are women; the median age across all Universal Credit claimants is 38 (DWP).
77%
The percentage of adults who received a court summons for a debt who have experienced a mental health problem (Money and Mental Health).
Statistics Source: http//www.themoneycharity.org.uk
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