Covid-19 has weakened UK households’ finances – FCA survey

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The number of UK consumers with “low financial resilience” has risen by a third during the Covid-19 pandemic, a Financial Conduct Authority survey finds.

The FCA’s latest Financial Lives Survey, conducted in October 2020, finds there are now 27.7 million adults in the UK with “characteristics of vulnerability”. This includes “poor health, low financial resilience or recent negative life events”, the FCA says.

The Office of National Statistics estimated in 2019 that there were approximately 54

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