10.5 million Brits find themselves in the worst financial position ever
Dr Roger Gewolb, Executive Chairman and Founder of FairMoney.com, believes that Brexit will provide an opportunity to galvanise personal finance in the UK
Not only does Friday mark Britain’s exit from the European Union, it signifies the closing of the book regarding political chaos that has bogged Britain down in the attempt to finding a resolution to Brexit. Having already hampered business investment in the UK, Brexit uncertainty distracted the politicians in Westminster from addressing the fundamental domestic issues.
FairMoney.com, the UK’s leading fair loan comparison site, has commissioned nationally representative research that unveiled the following with regards to Britons’ sentiments towards Brexit and the impact it will have on personal finance:
- 20% of Brits (10.5 million) think that they are in the worst financial position that they have ever been in
- 43% of Brits (22.2 million) don’t understand how Brexit will affect household bills
- 42% of Brits (21.8 million) would care more about Brexit if it affected their house bills
- 59% of Brits (30.7 million) believe that Brexit will increase the price of food and produce in supermarkets
- 57% of Brits (29.5 million) believe that Brexit will make European goods in supermarkets considerably more expensive
- 54% of Brits (28.1 million) believe that Brexit will have a negative impact on the cost of holidays
Dr Roger Gewolb, Executive Chairman and Founder of FairMoney.com, believes that the withdrawal from the European Union will result in a galvanising effect for the personal finances of the UK.
“For the past three and half years, large numbers of our MPs had sought to block Brexit, making a resolution almost impossible to find. Throughout this chaos and uncertainty, there were an inordinate amount of Britons being neglected as domestic policy issues were simply put on the back burner.
Now that Britain has a majority government, domestic policies are back on the agenda. The government has promised wide-scale “levelling up” across the UK, showing a commitment to addressing societal ills. However, from our national research, Britain needs a government that will deliver their promises.
We don’t exactly know how Brexit will effect Britain’s finances. What we do know however is that the implications of Brexit are at the forefront of Britons’ minds when it comes to the issue of personal finance. Britain is relying on its government to make a success of Brexit. Now that they have an overwhelming majority in the Commons, we need the government to prioritise on a programme that will help those most vulnerable in society, especially the 10.5 million who are in their worst financial position ever.”