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Lower-income households increased consumer credit during pandemic
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.
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