12 million people in Britain will struggle to pay bills, watchdog says
27 October 2020
Some 12 million people in Britain are likely to struggle with bills and loan repayments as the COVID-19 pandemic continues to wreak economic havoc, a Financial Conduct Authority survey tracking consumer financial resilience showed.
The survey, in which 7,000 people took part, showed that almost a third of adults have suffered a drop in income, while income for households has fallen by a quarter on average. Black and Minority Ethnic respondents fared even worse, with 37% reporting a hit to their incomes.