Half of families struggle to pay bills as budget cuts bite

FAMILIES are digging deep to try to keep up with household bills and nearly half look like dropping health insurance and other vital expenses as a range of budget cuts take effect.

Any hopes of meaningful economic growth this year look under threat as more than half of those surveyed for the Irish League of Credit Unions (ILCU) are falling behind on bills, up from 42% to 55% in just three months, and have less disposable income to spend. This may be explained by rising energy and fuel costs, which 86% of consumers said has impacted negatively on their spending ability.

Although the 18% who say they are finding it hard to make ends meet is slightly better than in September, it compares to just 13% last April.