Child poverty in the North West rises to 36%
Exclusive research from FairMoney.com unveils a fifth of people in the North West have experienced issues with their mental and physical health as a result of financial stress
- Almost a third of people in the North West have lost sleep at night, because of financial stress
- Almost a fifth - 17% - of people would never admit their financial struggles to family and friends
- 19% of people in the North West would never admit to publicly living in poverty
With Boris Johnson celebrating the first month of his premiership by introducing a number of new spending initiatives, many in Britain continue to live in poverty. According to a Social Metrics Commissions study, the rate of poverty in the North West has risen to 24%, with a child poverty rising to 36%.
FairMoney.com, a fair comparison website, has conducted a nationally representative survey across over 2,000 British adults to explore the impact of poverty on our lives.
Across the North West
- Almost a third - 26% - of people in the North West have lost sleep at night, because of financial stress
- A fifth of those in the North West - 20% - have experienced issues with their mental and/or physical health as a result of financial stress
- Almost a fifth of people in the North West - 17% - would hide the reality of their financial situation from friends and family if they were struggling with money
- Almost a tenth - 7% - of people in the North West believe that financial stress is the main source of conflict in their family
- A tenth of people in the North West - 11% - believe that financial issues have caused strain in their marriages or relationships
Poverty in the North West
- 19% of people in the North West would never admit publicly that they are living in poverty
- 11% opening their mail or checking their statements, for fear of bills
- 8% in the North West haven't always been able to afford a roof over their head
- 12% of people in the North West have acted in an uncharacteristically aggressive way because of financial stress
- 5% cannot afford three meals a day
- 4% find themselves taking out new credit cards and loans, just to cover the payments on existing debts from other credit cards/loans
- 5% would rather consult a payday lender than a family member if they were struggling with money
- 6% have had to give away beloved family pets, due to being unable to afford to keep them
Dr Roger Gewolb, Executive Chairman and Founder of Fairmoney.com stated: "Within the UK, levels of poverty are unacceptable for a developed nation, and more needs to be done to ensure that those who need access to finance are not crippled by debt from unscrupulous lenders. The research released by FairMoney.com today highlights the devastating lengths that people in the North West are being forced to because of their financial situation. From losing sleep to not eating, Brits up and down the country are suffering due to unfair lending practices and limited access to fair finance. This needs to change before more people are forced to take extreme action because of their finances."
