Debt ‘a growing concern’ for Brits

An increasing number of Britons are concerned about their finances as it appears that the economic recovery will be a long and drawn out process.

This is the opinion of Chris Tapp, director of national money education charity Credit Action, who observed that even those who have not yet lost their jobs as a result of the downturn and do not currently have financial difficulties are still worried about the future.

He went on to note that money troubles have other effects on people aside from a lack of funds in the bank.

“It affects people’s emotional wellbeing, it affects people’s relationships, it affects people’s health,” Mr Tapp said, adding that the problem the country is facing is a serious one.

His comments come in response to research from CreditExpert which, alongside chartered physiotherapist Sammy Margo, has uncovered a new phenomenon – recession strain injury – with many people experiencing physical suffering because of increased financial pressure.

By Sarah Adie