Britain Weeks From Breadline – The New Great Depression Too Close

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December 4, 2014 Royce Christyn News, UK 0
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Multiple Sources: Britain Nearing Breadline

The not so well kept secret is out:  Britons in the millions are less than a month away from needing benefits, family assistance, or help from loving friends and family from having to get into the breadline in what many are calling the new breadline.

Although many  feel they have 77 days of being “OK” after total income loss – this is simply not the truth.  According to The Independent:  “In reality, the average household is just 29 days away from this point, while others are much closer still, according to the Deadline to the Breadline report to be released this week.

Despite the concerns expressed by many over the rising cost of living during the year ahead, as well as fears of falling wages, more than a third of homes (36 per cent) have “no strategy in place to cope with financial hardship”, says the report from Legal & General which draws on analysis by the Centre for Economics and Business Research (Cebr) and a survey of almost 5,000 people in the UK.

The survey reveals wide variations in the ability of people around the UK to survive job loss or another major setback.

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Those in Wales would only be able to survive for seven days if there was a financial problem, compared with their counterparts in London, who would be able to last for 83 days before their money ran out, according to the survey. It found people of working age (18 to 64) are just two weeks away from the breadline.” [1]

RT News has even more dire words to say about the situation:  “The average UK household is just days away from an emergency situation in the event of sudden financial hardship, according to a new report to be released this week.

Meanwhile, one food bank has reported a surge in new participants.

The consequences of severe economic fallout would present a real challenge for many people, considering that more than one-third of households (36 percent) in the UK have “no strategy in place to cope with financial hardship,” according to a report from Legal & General, citing data from the Centre for Economics and Business Research (CEBR).” [2]

How do you feel about this disturbing information?  Do you think the facts are correct or are they being exaggerated?

SOURCES

[1] http://www.independent.co.uk/news/uk/politics/millions-of-britons-only-days-from-the-breadline-claims-report-9877881.html

[2] http://rt.com/uk/208063-britain-economy-welfare-crisis/

 

Royce Christyn

Royce Christyn

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