Led by the London School of Economics and Political Science (LSE) the report has found that over the past decade, there has been a significant rise in financial insecurity, and in the proportion of the population experiencing multiple insecurities at the same time:
- In 2022/23, 47% of UK adult (28.3 million people) experienced financial insecurity
- This was sharply up from 29% or 16.7 million in 2014/15.
- 9% (5.2 million) faced combined financial, housing and health insecurity, up from 6% (3.4 million) in 2014/15.
- In 2022/23, 26% of adults experienced health insecurity, 27% experienced housing insecurity, 16% were affected by caring insecurity, and 36% of working-age adults faced work insecurity.
The study finds that recent rises in insecurity were driven by austerity-era policies, a stretched welfare system, the erosion of public services, and the withdrawal of pandemic-era supports.
Professor Sally Pearse, Professor Helen Lomax and Dr Jonathan Webb contributed to the research from Sheffield Hallam University with insights from policy stakeholders and the lived experiences of multiple insecurities from people in Mablethorpe, Milton Keynes and Sheffield.
Professors Pearse and Lomax said: “It has been a privilege to work on this research project and to bring the voices of those impacted by Multiple Insecurities into the policy arena.
“We heard the stories of people trying their hardest to support themselves and their families but often feeling overwhelmed by the combination of the challenges they face. In some cases, people were facing poor housing and caring responsibilities alongside working full-time in low paid jobs. One participant said of their work "It keeps you alive, but it doesn't take you to a better life."
The report, Insecure Lives: The Growth and Impact of Multiple Insecurities, draws on the nationally-representative Understanding Society survey, and in-depth interviews with people experiencing multiple insecurities.
It found that people facing multiple insecurities were 2-3 times more likely than average to report mental health issues such as strain, sleep problems, and loneliness.
9% of all UK adults experienced combined financial, housing and health insecurities, but some groups had much higher rates: 32% of people who were economically inactive because they were long-term sick or disabled, 28% of unemployed people, 27% of lone parents and 21% of adults living alone. Adults aged 35–44 were the most affected. People from deprived areas and from minority ethnic groups also had above average rates.
Researchers find that trying to deal with multiple insecurities a could inhibit people’s ability to start work or move off Universal Credit. Christina was working a few hours a week, but she had bipolar disorder and depression, and responsibility for two young children. She said, “I feel that at the minute, working fulltime Is not a possibility… I’m overwhelmed enough with my kids and I’m giving them as much as I can”.
However, work is no guarantee of security. 53% of working age people experiencing multiple insecurities were in work. Many faced low or unstable pay, poor conditions, and limited opportunities for promotion
The report argues that higher benefits, the end of benefit caps and the two-child limit, reduced use of benefit sanctions, more social housing, higher Local Housing Allowance rates, reduced waiting times for NHS and child special needs services, and improved childcare and social care, will help reduce insecurity.
The report explores policy to target insecurity: Redesigning Universal Credit to make income more predictable, expansion of advice services and legal aid, low-cost credit such as through credit unions, social prescribing and support to navigate services, particularly through approachable, local community hubs.
Lead researcher, Professor Becky Tunstall from LSE, said: “Tens of millions of British people are living with fears about being able to pay bills, to keep their jobs and homes, to maintain their families’ health. Millions are living with multiple insecurities at the same time. This affects their mental health, their ability to work, to plan and to support their children’s futures. We urgently need policy to build security and opportunity.”
