Monday 21st of February 2011
The number of people already deep in the red and asking individual voluntary arrangement questions to help them with their monetary situation could be about to increase.
New research from R3 has found more than one-in-four Britons (43 per cent) expect their finances to worsen over the next six months.
The figures mark a rise of 13 per cent on those recorded in the last quarter, while only 24 per cent of those questioned stated they think their cash flow will improve in the same period.
R3 president Steven Law said: "Since we last carried out the survey, people have seen a rise in the cost of living, from the VAT increase to the rise of fuel and utility costs."
Andrew Goodwin, senior economic adviser to the Ernst & Young ITEM Club, recently claimed many consumers in Britain feel as though their wages continue to lag behind inflation, meaning their spending power is continuing to decline.
By Chris King
