Budget Planning

People on low incomes 'financially affected by recession'

02-03-10, 04:04 in Budget Planning
People on low incomes 'financially affected by recession'
A number of people on lower levels of income have been financially affected by the recession, it has been highlighted.

The Resolution Foundation's Sophia Parker believes that redundancies and fewer working hours may have had a negative impact on some members of the country's workforce.

Ms Parker, the research organisation's acting director, commented: "Low earners are in a much more vulnerable position now than they were even before the recession."

The expert, who made her remarks during the recent Northern Money Conference 2010 event in Liverpool, went on to say that the economic downturn has had a larger effect on those who have smaller wages.

Some people may be having to get credit in order to make up for shortfalls in their wages, uSwitch.com recently suggested.

In 2010, as many as 57 per cent of those queried in a recent poll by the site do not envisage an increase in the amount they are paid.

Posted by Martin Peacock.ADNFCR-2660-ID-19645439-ADNFCR

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