Published: 24th Mar 2021

A quarter of the country will have to survive another year of hardship before their finances recover from the pandemic, according to a new report. The report by the charity Turn2Us warns people who have lost income and incurred debts since last March, when the lockdown first started, will need an average of 17 months to get their finances back to pre-pandemic levels. The charity says that the time needed for people to recover is clear evidence that the government should not pull away support schemes too quickly and now has a clear moral obligation to make permanent the £20 uplift to Universal Credit. People have seen their finances affected in a variety of ways; including one in five (19%) now struggling to pay bills, one in six (17%) struggling to afford food, and one in seven (15%) struggling to afford their rent or mortgage payments. The severity and depth … (To read the full article, subscribe below)