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General update

UK Finance has published its first economic insight of 2023.


Caroline Siarkiewicz, CEO at MaPS, was on Good Morning Britain this week around the cost-of-living crisis and the support available.

On 12 January, MaPS issued a press release stating that over 12m people are now borrowing money for food or essential bills and half of them are doing so for the first time in their lives. The survey of 2,180 UK adults shows that 23% have relied on credit or money from family and friends to buy food in the last 3 months. 23% have done so for gas and electricity. Of serious concern is around those that have never had to do this before, which account for 43% with regard to food and 53% with regard to utilities.

Similar numbers said they’re relying on borrowing to meet the cost of their rent or mortgage (17%, 52% for the first time), healthcare costs like pr...

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