Almost half of people 'would struggle with bills if income suddenly lost'

Almost half of people would struggle to pay for housing, food or energy within a month of unexpectedly losing their income, new research has suggested.

A survey of more than 2,000 adults by the Big Issue magazine showed big regional differences in the precariousness of people’s personal financial situation across the UK.

More than half of respondents in Wales and London said they would find it difficult to pay for necessities within a month of suddenly having their income taken away, compared to 42% in the rest of the South of England and 41% in Scotland.

The magazine published its annual impact report which revealed that Big Issue vendors collectively earned more than £3.9m through sales of the weekly street magazine in 2024.

The Big Issue Group’s social investment arm, Big Issue Invest, has invested £2.7m in 13 social purpose organisations in the past 12 months, expanding its portfolio to 145 businesses.

These businesses have provided life-changing services and support for 1.8 million people – a 20% increase from 2023.

Paul Cheal, chief executive of the Big Issue Group, said: “Poverty is a problem that touches everybody. The issues it throws up are already destabilising our wider society, from the growing welfare bill to our overburdened public services.

“As our new poll shows, more people than ever are close to the brink.

“Across all areas of the Big Issue Group, we’re working to end poverty.

“Whether it’s with our vendors out earning on the streets, with the candidates engaging with us to find work, with people being supported by the innovative organisations we’re investing in, or with the readers of our groundbreaking social justice journalism – Big Issue is using all the resources at our disposal to do our bit in the fight against poverty and inequality.”