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LOWER-INCOME households are more likely to have increased their use of consumer credit and be saving less than usual during the coronavirus crisis, a new study suggests.
The Resolution Foundation said its research indicated those most at risk have the weakest savings to fall back on.
The report, published today in partnership with the Standard Life Foundation, said the crisis was exposing Britain’s wealth gaps and the ability of low-wealth households to weather the economic storm.
A sharp rise in public-sector investment is required to kick-start the economy, argues MICHAEL BURKE
Burnham urged to raise taxes on banks after Barclays reveals 30% rise in pre-tax profits
The 2025 Budget shores up the PM’s political position with headline-grabbing welfare U-turns, but with no improvements on offer to declining public services or living standards, writes MICHAEL BURKE
