Summary
This report by The Health Foundation looks at the relationship between debt problems and health, and the impact of the Covid-19 pandemic on increasing the burden of debt that UK households experience. The authors highlight the two-way relationship between debt burden and health issues, with poor health likely to cause an increase in debt, and debt having an impact on health and wellbeing. Those most exposed to deprivation are more likely to experience a higher burden of debt, adding to health inequalities.
The report also demonstrates that the pandemic has particularly affected those on low incomes and the self-employed, in terms of debt burden, and public sector debt collection has added to debt pressures for many. They argue that resilience to future financial shocks has been reduced for a significant proportion of the population and that taking action to offset the impact of rising energy bills should be an immediate priority.
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