Tuesday 9 June 2020 / 8:54 AM Anneliese Dodds / Coronavirus / Economy

Anneliese Dodds responds to Resolution Foundation survey showing poorer households less likely to have saved during Coronavirus

Anneliese Dodds MP, Labour’s Shadow Chancellor, commenting on a Resolution Foundation survey showing poorer households are less likely to have saved money during the Coronavirus outbreak than wealthier households, said:

“We entered the Coronavirus crisis with a quarter of UK families with less than £100 in savings. As the crisis has progressed, many of these families have been forced into avoidable debt.

“We have called directly on the Government to make key changes to Universal Credit, legacy benefits and Statutory Sick Pay, which would prevent many families from falling into debt in this way.

“In the long-term the Government must tackle the fragmented labour market and poverty pay which has caused so many families to be so lacking in financial resilience in the first place.”