A higher proportion of people are struggling financially at both the bottom and middle income ranges, and the majority fear that Brexit will make their economic situation worse. These are the findings in the final annual monitoring report on financial inclusion, published by Birmingham Business School and funded by Friends Provident Foundation. For the last five years the reports have monitored financial inclusion in Britain through a range of measures, including access to bank accounts, data on savings and use of food banks. There are some positive signs since last year’s report, with unemployment down and some groups having reduced their debts. But real wages continue to fall and incomes are being further squeezed, the report says, particularly at the bottom of the income range – as the benefit cap and a spike in prices take their toll. Thus some people are struggling more now to meet expenses and avoid … (To read the full article, subscribe below)

Clare Goff

Clare Goff is Editor at New Start magazine