Debt consolidation need may be emphasised by lack of holidays

An indication of the depth of the financial woes faced by many Britons has been emphasised by a new poll showing a quarter of adults will not be going on holiday this summer.

A poll by insurer Swiftcover.com revealed 24 per cent are not stopping their work to take a break this summer and 66 per cent of those not planning to get away from it all blamed "financial pressures" for their decision.

Debt consolidation loans may be a useful way for consumers who are under such strain to reduce their outgoings, something that may help them set some cash aside for a break.

But money alone is not the only problem, as fear of job losses is another prominent reason for this year's holiday plans being abandoned.

The survey showed 580,000 remaining at their workplaces for fear of job security, while another 550,000 felt their continued presence may impress bosses enough to keep them secure against redundancy.

Senior marketing manager at Swiftcover.com Amanda Edwards observed: "The country is still gripped with concern by economic conditions so Brits are understandably worried about the impact having a holiday may have on their jobs."

However, not everybody is in such a bad situation, as indicated by another poll on holiday plans published this week by Lloyds TSB.

It revealed that 54 per cent of the public will be heading on an overseas trip this year, a figure that rises to 58 per cent for the over-55s and the 18-24s.

However, these groups may include a number of people without job worries due to being students or retired.

By James Francis