More than 40 percent of Britons are struggling financially or suffering poor health, a sharp increase from last year driven by the Covid-19 pandemic , Britain's Financial Conduct Authority said on Thursday. The survey contacted 16,000 people between August 2019 and February 2020, with a follow up survey of 22,000 people in October last year. Consumers with too much debt to manage or low levels of savings or erratic earnings rose from 10.7 million to 14.2 million during 2020, the FCA said. "It is likely the picture will have got worse since we conducted the survey," she said. One in six mortgage borrowers or 3.2 million people took up a payment deferral.

Source: Mint February 11, 2021 10:25 UTC