Qualified advisers answering your
Financial Questions
call 0800 092 1245

One in three worried about Britain's economic situation

More than one in three people say that they are worried about Britain's economic situation and as many as 15.3 million consumers feel financially worse off, according to a poll by uSwitch.With 38 per cent of people who applied for a new credit card being denied in the last three months, consumer confidence is crumbling as the credit crunch starts to take hold.According to the poll, as people worry more about the financial situation in Britain, 22 per cent said they have cut back on retail spending, and major purchases such as home improvements and exotic holidays are being put on hold too.Ann Robinson, director of consumer policy at, said: "This is crunch time for consumers and it couldn't come at a worse time of year. In the run-up to Christmas, traditionally one of the biggest periods of consumer spending, people are feeling less well-off and are worried about the future. "They are concerned about their jobs, their homes and their ongoing ability to manage their debts and bills. The days of easy credit and the 'buy now pay later' culture may be numbered, but they will leave a painful reminder for those left struggling with debt."

Share this..

Related stories

Financial Guides

Financial Calculators

Our useful calculators can help you get your finances in order:

Latest News


Helpful new tax year facts that could affect you and your money

Blog | Seven helpful new 2016/2017 tax year facts that could affect you and your money. Our recent online blog shares a brief outline on how to stay up to date.

Read more

Useful Links

Popular Searches

Please Enter More Details

Enter More Details