Published: 6th May 2020

50% of UK households believe they will struggle to meet their financial commitments over the next three months. These are the findings from a national COVID-19 financial impact tracker published by Standard Life Foundation that examines the financial consequences of the coronavirus pandemic. Researchers questioned 6,500 people across the UK on how their personal and household finances have been affected by the crisis and the likely impact it will have over the coming months. The latest findings suggest government support will go some way to mitigating income losses. Around four in 10 of those who had lost a substantial part of their income as a result of the crisis said that they expected to have some of their (or their partner’s) earned income replaced by the furlough scheme. Looking to the near future, 28% of households anticipate some fall in income over the next three months. One in five have used … (To read the full article, subscribe below)