Debt worries creating mental health problems?

Concerns over the potential for debt problems to arise in a difficult economy could be causing mental health problems for British employees.

Research by Mind revealed half of staff believe morale is low due to the recession, with ten per cent having visited a GP for support.

In addition, nearly 50 per cent of people have lost sleep because of work over the course of their careers, with less than four in ten thinking their employer has done enough to support them.

The charity is launching a campaign to make businesses aware of the problems and it is backed by Dragon’s Den entrepreneur Duncan Bannatyne, who warned of the problems worries such as the fear of being out of work and falling into debt can cause.

He said: The recession will really have an impact on many employees who are a bit insecure in their jobs … and are scared in case the company goes into administration, or redundancies are made.”

Last week, the Personal Finance Society argued the UK has not yet recovered from the recession.

By Andy Mackay