Brits fear Brexit will result in less disposable income

A fifth (10.5 million) of adults in the UK claimed that they are in the worst financial position that they have ever been in, with Brexit and its financial implications adding further concerns, a survey from FairMoney has revealed.

According to the firm, 59 per cent of Brits (30 million people), think that Brexit will increase the price of food and products in supermarkets, while over half (54%) believe that Brexit will have a negative impact on the cost of holidays.

Furthermore, over 40% of Brits (22 million) would pay more attention to Brexit negotiations if it affected their household bills, with 43% of adults not understanding the implication Brexit will have on them.

According to FairMoney, the implications and potential price increases that Brexit could bring are “monumental”, with 53% of adults in the UK claiming that their average disposable income per week is less than £0.

Commenting on the figures, FairMoney executive chairman Roger Gewolb said: “The Brexit limbo is negatively affecting Brits and their financial situation. Many of us just need some degree of certainty so we can adequately plan for the future.

“The research that FairMoney is publishing today shows a bleak picture of personal financial situation, and I urge politicians from all sides to come together for the good of our bank balances.”

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