Britons are more worried about cost of living than Covid, study says

Almost four in 10 people (38%) are worried about their finances, according to the Covid social study survey.
Commuters walk across London Bridge amid the spread of the COVID-19, in London
Commuters walk across London Bridge
REUTERS

More people in the UK are worried about the rising cost of living than about Covid, a new study has shown.

Almost four in 10 people (38 per cent) are concerned about their finances and paying bills.

It is a rise from the 32 per cent in January and the highest since the start of the pandemic, according to researchers at University College London (UCL).

This relates to around one third (33%) who are wary of contracting Covid, down from 40 per cent at the start of this year.

The findings were based on a Covid social study survey of 28,495 people in March.

Researchers said the results likely echo the concerns around the cost of living squeeze while England’s lifted legal restrictions have changed how people view the pandemic.

Fewer people felt in control of their finances compared to October 2021 – at 56 per cent versus 63 per cent, according to the study.

There has been a drop in levels of life satisfaction and happiness, according to the month-on-month tracking of the study since the summer of 2021.

Lead author of the study Dr Daisy Fancourt said: “These findings could suggest that our return to more ‘normal’ living has not had all the mental health benefits that people necessarily expected.

“But it is also notable that the last few months have seen a cost of living crisis emerge. Concerns about money have been increasing, with people now more concerned about finances than about Covid-19.

“This suggests that new psychological stressors are becoming dominant for individuals.”

The results come as Covid infections in the UK rise to near record levels – as only Scotland has seen a drop in numbers.

Dr Fancourt said the significant drop in people worried about catching the virus comes as fewer people follow previous Covid guidelines to wear masks, socially distance and test regularly.

This study was funded by the Nuffield Foundation, UK Research and Innovation, and Wellcome.

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