Today I publish my report showing a devastating rise in financial insecurity and worsening wellbeing in Manchester Gorton during the coronavirus pandemic.
The coronavirus pandemic and economic lockdown has had serious consequences on people’s financial security across the UK. To understand better how the situation was unfolding locally I conducted a two-wave survey of constituents in October 2020 and February 2021 to assess the impact of the crisis on individual finances and emotional wellbeing during the pandemic.
The findings show:
- A three-fold increase in the number of respondents feeling financially insecure during the pandemic compared to before the pandemic.
- A 50% increase in the number of respondents who were struggling to cover their living expenses between October 2020 and February 2021.
- A third more respondents experiencing poor emotional wellbeing between October 2020 and February 2021.
It is clear to me that the pandemic has not only impacted people’s financial security, but their mental wellbeing too. This report lays bare the emotional toll of the new financial insecurity many people are struggling to cope with.
As the Chancellor delivers the Spring Budget, millions will be looking for reassurance and financial stability after such a long and difficult year. He must finally provide assurance to my constituents and those people struggling to cope at the moment. He must urgently extend the £20-per-week uplift to Universal Credit and provide clarity on the future of the Government’s economic support schemes. We need to see a relentless focus on jobs and support for struggling families.
The past year has been unlike any other in living memory, and the next must be similarly unprecedented in the scale and ambition of our recovery. No one, and no community, can be left behind.
Read the full report HERE