It is shocking to find over 40% of the UK families are being forced to borrow money just to put food on the family table. In the long term this can not be good for the UK economy, the EU or the worlds long term recovery from a long running recession / depression.
In the UK – the equivalent of five million households used credit cards, overdrafts or savings to buy food during the month of April 2013.
A recent survey, 43% were headed by people between 30 and 50, while just under half had incomes under £21,000 ($34,000.00).
This research found that 55% of those using credit to do weekly shopping planned to cut back on food in the coming months, with almost a third saying they had to borrow from friends or family in order to make ends meet. This study also found that one quarter of people said 36% said they felt their finances were under pressure.
Almost one third, 31% of those surveyed cut back spending on essentials last month, and they were most likely to be women aged between 30 and 49. Our tracker shows that many households are stretched to their financial breaking point, with rising food prices one of the top worries for squeezed consumers.
It’s simply shocking that so many people need to use savings or credit to pay for essentials like food. A spokesman for Oxfam said that millions of people were under pressure from a combination of rising prices and stagnant incomes with their problems added to by cuts to services and safety nets.
Posted in Agricultural, Country, Credit Card, Economics, Economy, Food, Food cost, Government, Health, News, Social welfare, Society, Survival, Taxes, Unemployed
Tagged 2013, Depression, Economy, Food, Government, Health, News, Recession, Society, survival, Taxes, unemployed