(Bloomberg) -- More than one-in-five people in the UK say they’re struggling to pay their bills because of a record surge in the cost of living, a poll by YouGov Plc shows.
The market research company said there’s been a 12-point increase in the proportion of people reporting hardship in the past year, and half of those surveyed said their financial position deteriorated in the past month.
The data explain a plunge in consumer confidence that bodes ill for the British economy. The warning comes as Prime Minister Boris Johnson’s government prepares to outline billions of pounds of support for households struggling with spiralling energy costs and higher taxes.
YouGov said 22% of Britons are struggling or unable to make ends meet, with 60% expecting their finances to get worse in the next year. Older people are doing better, with just 13% saying they’re finding it difficult.
The survey of 1,755 adults was conducted May 24 and May 24.
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