About 9 million people in the UK had to borrow due to the economic effects of the new type of coronavirus (Kovid-19) epidemic.
According to data from the British Office of National Statistics (ONS), as of December 2020, about 9 million people in the UK went into debt due to the epidemic. In the country, the proportion of those who borrowed more than £ 1,000 to the population rose from 35 percent to 45 percent by June 2020.
Millions suffer from salary problems
In the ONS statement, it was stated that self-employed people had to borrow more due to the conditions created by the epidemic.
In the statement, it was noted that the effects of the epidemic in the employment market were felt most among the low-income young people, and it was stated that those under the age of 30 and with an annual income of less than £ 10 thousand were mainly released by the companies they work with and benefit from the government’s salary support program.
In the statement, it was reported that 52 percent of those in the highest income group in the UK continued to receive their full salaries during the epidemic period, while only 28 percent of those who received their full salaries in the lowest income group.
“THE MOST LOW-INCOME YOUTH AND FAMILIES WITH CHILDREN WERE AFFECTED.”
ONS Analyst Gueorguie Vassilev, in his assessment on the subject, stated that the epidemic affected many people in the first months economically, “People either had to benefit from the government’s wage support program or their working hours were reduced.” used the expression.
Stating that the income gap between households in England continues to grow, Vassilev noted that the people had to use more of their savings or go to borrowing in order to survive during the epidemic.
“Young people with low income and families whose children are dependent on them were the most affected by the process,” Vassilev said. used the expression.
Approximately 9.9 million people currently benefit from the government’s salary support program in the UK. In this context, 80 percent of the salaries of employees who are unable to work due to the epidemic are paid by the government. The layoffs are expected to increase as the support ends at the end of April this year.
Source: A HABER by www.ahaber.com.tr.
*The article has been translated based on the content of A HABER by www.ahaber.com.tr. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!
*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.
*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!