This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/uk/515266-britain-covid-finances-poorer/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| So, how’s Covid-19 been for you? Not great, with over 40% of Brits in poor health or struggling financially, UK regulator says | So, how’s Covid-19 been for you? Not great, with over 40% of Brits in poor health or struggling financially, UK regulator says |
| (7 months later) | |
| While half of the population has remained largely unaffected, a significant part has been hit hard by the pandemic, with many people forced to resort to food banks, a survey by the UK’s financial regulator has revealed. | While half of the population has remained largely unaffected, a significant part has been hit hard by the pandemic, with many people forced to resort to food banks, a survey by the UK’s financial regulator has revealed. |
| The Financial Conduct Authority (FCA) says over 40 percent of Britons are now struggling to make ends meet or are in poor health – up sharply on the same time last year, before Covid-19 took hold. | The Financial Conduct Authority (FCA) says over 40 percent of Britons are now struggling to make ends meet or are in poor health – up sharply on the same time last year, before Covid-19 took hold. |
| The body responsible for overseeing the UK’s financial industry says some 27.7 million people are now showing signs of vulnerability and health impact, and have little monetary resilience. One in four Brits is having trouble making ends meet and one in 10 will likely have recourse to a food bank, according to the survey, published on Thursday. | The body responsible for overseeing the UK’s financial industry says some 27.7 million people are now showing signs of vulnerability and health impact, and have little monetary resilience. One in four Brits is having trouble making ends meet and one in 10 will likely have recourse to a food bank, according to the survey, published on Thursday. |
| As bad as it is for those who are suffering during the pandemic, the FCA report also reveals that almost half (48 per cent) said it has had little or no effect on their finances. One in seven actually reported that they were better off now than they were a year ago. | As bad as it is for those who are suffering during the pandemic, the FCA report also reveals that almost half (48 per cent) said it has had little or no effect on their finances. One in seven actually reported that they were better off now than they were a year ago. |
| “The pain is not being shared equally, with a higher-than-average proportion of younger and BAME [black, Asian and minority ethnic] adults becoming vulnerable since March,” said Nisha Arora, the director of consumer and retail policy at the regulator. | “The pain is not being shared equally, with a higher-than-average proportion of younger and BAME [black, Asian and minority ethnic] adults becoming vulnerable since March,” said Nisha Arora, the director of consumer and retail policy at the regulator. |
| One in six was expecting to take on more debt because of the pandemic, and the same proportion had availed themselves of the mortgage-payment break offered by lenders. | One in six was expecting to take on more debt because of the pandemic, and the same proportion had availed themselves of the mortgage-payment break offered by lenders. |
| The survey polled more than 16,000 people between August 2019 and February 2020 – just as the pandemic was taking hold – and surveyed an additional 22,000 last October to take account of the economic fallout from Covid-19. | The survey polled more than 16,000 people between August 2019 and February 2020 – just as the pandemic was taking hold – and surveyed an additional 22,000 last October to take account of the economic fallout from Covid-19. |
| Like this story? Share it with a friend! | Like this story? Share it with a friend! |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |