Household Bills
One in three cannot afford surprise expenses, report warns
The number of Brits who cannot afford unexpected emergencies has risen sharply, a report has revealed.
The study by the Office for National Statistics (ONS) found over one third (37%) of people say they would be unable to meet an unexpected, but necessary financial expense up from 27% in 2007 before the financial crisis.
The ONS said there had also been increases in the number of people who are unable to afford other items. For example, 30% of people cannot afford an annual holiday, up from 21.4% in 2007.
Commenting on the report, TUC general secretary Frances O’Grady said:
“This large rise in the number of people unable to afford unexpected emergencies like a faulty boiler or a leaky washing machine highlights the day-to-day challenges many hard-pressed families are facing.
“These figures should act as an urgent wake-up call to the government. The UK now has a higher percentage of people at risk of poverty than most countries in Western Europe.”
