More than a third of Britons would struggle to cope with a £20 increase in monthly outgoings, according to new research from Citizens Advice. The polling, conducted by Public First among 2,000 UK adults, found that 37% of respondents would find it difficult or impossible to cover such a rise, with 7% describing it as 'very difficult' and 4% as 'impossible'.
The figure rose sharply among vulnerable groups: 58% of benefit claimants, 57% of prepayment meter users, and 47% of ethnic minorities said they would struggle. The charity warned that millions of households are at a 'financial breaking point', with many cutting back on essentials and turning to food banks.
Dame Clare Moriarty, chief executive of Citizens Advice, said: 'Millions of households are at financial breaking point - running down savings, going without bare essentials and turning to foodbanks to get by. We're already seeing record numbers of people coming to us for crisis support and this research shows people simply cannot cut back any further.'
The survey also revealed that 23% of respondents had spent more on essentials than their income over the past three months, with two-thirds of those saying they could only sustain this for six months or less without extra help. A third had dipped into savings, and 56% of those either had run out or expected to do so within three months.
Meanwhile, 28% reported losing sleep over their finances at least once a week, and around one in seven said they had eaten cold meals over winter to reduce energy costs. Citizens Advice urged the government to set out a clear plan for targeted support to prevent further hardship as costs continue to rise.
