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Half of workers forced to borrow money from banks, lenders of familiy

15 Jun 2022
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Almost half of all workers have been forced to borrow money from banks, payday lenders or family and friends to make ends meet during the past six months, according to a GMB Survey. 

In the poll of more than 2,300 workers across all sectors, more than 41 per cent agreed they ‘have had to borrow money to cover essentials from banks, payday lenders, or family and friends in the last 6 months’. 

Other findings from the survey include: 

  • Just 30 per cent said they ‘can afford necessities for myself each month’ and only 25 per cent ‘can afford necessities for family and dependents each month' 

  • More than 60 per cent agreed ‘the rise in energy costs is forcing me to spend less on basic food items or other essentials' 

  • Just five per cent agreed that ‘the Government's £200 payment and £150 loan is making the April energy bill increase affordable’ 

GMB members completing the survey said they couldn’t afford to have the heating on and feed their families, some said they were only eating every other day, while others said they were struggling with depressing as a result of the cost of living crisis. 

One worker saving to get married said they wished they’d never agreed to get married because they could now no longer afford it. [1] 

The findings will be discussed at GMB's annual congress, which takes place in Harrogate, Yorkshire, from 12 - 16 June.

Gary Smith, GMB General Secretary, said: 

“We face the perfect storm of wages plummeting as prices shoot up. It’s a disaster for workers. 

“People are suffering and this Government is doing nothing. 

“The energy price surge was grimly predictable. Yet instead of preparing, this Government closed our biggest gas storage facility at Rough. 

"Instead of blaming low paid workers who ask for a pay rise, Ministers must get their act together and make the important decisions that can help bring stability to prices in the future, such as on new nuclear generation and gas storage. 

“Meanwhile there is a strong case for wage support for some of the lowest-paid workers.” 

will have too take time off work because I cannot afford the fuel it cost too get too work. 

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