A new report by the Bevan Foundation shows the continuing impact that the cost of living crisis is having on people in Wales. The foundation have been conducting their ‘Snapshot of Poverty’ surveys since 2021, providing a consistent data source on how the people of Wales are coping with living costs and their experiences of poverty.
According to the authors Joel Davies and Dr Steffan Evans, the report shows that living standards in Wales are stagnant, and that hardship levels are very similar to what was seen in previous years despite the recent drop in inflation. The report shows that many people still can’t afford to buy essential goods and that levels of borrowing and debt arrears are also on the rise.
Among the findings of the report are the following points:
- 15% of those asked sometimes, often or always find it difficult to afford essential goods.
- 30% of respondents have had to borrow recently due to financial pressures, and 15% are in arrears of at least one month on a household bill.
- 44% of those who took part in the survey said that their financial situation had an effect on their mental health, while 29% said it had an impact on their physical health.
- The authors of the report expect the situation to get worse over the winter as the need to heat homes and greater spending on energy places more financial pressure on people.
- The data also shows that the effects of poverty aren’t equally shared between different demographic groups. Generally the situation is worse for those with disabilities, those that are parents of children under 18, those renting their homes or in receipt of Universal Credit.
You can read the report in full by following this link.
