Two in three worse off than last year

ALMOST two out of three people (62%) say they are worse off now than this time last year.

Pay adjustments are also a stark reality for many with just over one in four saying somebody in their household has had their working hours cut while more than a half have had a pay cut recently. More than a third said somebody in their household has had a pay freeze recently.

Two thirds of those surveyed believe they will be worse off this time next year, a historic high. The figure is higher among females with 70% saying they will be worse off compared with 66% of males.