Over 50% of Brits feeling the pinch

A new poll has found the credit crunch has adversely affected over half the British population in the past year, suggesting people may be struggling to clear debt.

The survey, carried out in Leeds city centre, revealed over 53 per cent felt they were worse off financially than 12 months ago.

According to one respondent, Jean, aged 44, she is worse off now because her salary has not increased at the same rate as inflation – a situation many other people may find themselves in.

Findings also showed nearly 27 per cent felt no real difference and over 19 per cent believed they were better off.

Caroline, aged 31, said she was worse off, but blamed a new job rather than the credit crunch, but said: “I’ve noticed that things like drinks, bread and milk have all gone up.”

Jawad, 29, a doctor, said his new job has meant he is not feeling the effects, but added: “If I had a different job then I’m sure it would be a different matter.”

According to the Office for National Statistics, the price of meat, bread, vegetables and cereals rose between June and July.

By Morwenna Kearns