COVID-19 Impact: New research on UK households’ financial resilience during coronavirus outbreak

Following the COVID-19 outbreak, Cicero/AMO has surveyed a nationally representative sample of the British public to provide insights into how respondents are coping financially and the outlook for their personal finances over the coming three months.

Among our findings are that:

  • As many as 3 million households anticipate that they may need to call on Britain’s 2,000 food banks over the coming 12 weeks as a result of the COVID-19 crisis
  • Around 6 million people expect to make a claim for working age benefits in an attempt to cope with the financial implications of COVID-19 – a significant increase on the pre-COVID-19 claimant count of 1.3 million
  • As many as 6.5 million Britons expect to tap up their parents and other family members for cash loans or other financial support as a result of the COVID-19 crisis

I do hope you find this to be insightful.

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