The Tories promised to ‘make work pay’ to bring down the benefit bill. This was Tory code for forcing people into low paid jobs and creating a bigger market for their pay day lender friends. Result: Pay Day Britain
A study completed by the Post Office shows that over 4 million workers can not make their income last to the end of each month, affecting their health and causing stress and sleepless nights.
They are on a financial tightrope, relying on credit cards, overdrafts, and savings to survive until the next pay day, creating a vicious circle of debt. For many, getting paid brings their bank balance back to zero as they face yet another month of trying to juggle their finances and getting deeper into the red.
John Wilcock, head of financial services at the Post Office, told the Daily Mail ‘It is a concern that we are becoming “Pay Day Britain”, just counting down to the next pay cheque. ‘However, the bigger worry is that so many workers are struggling to balance their income versus their outgoings every month.’
With constantly rising costs in household bills, pay…
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