1 In 4 Brits Are Skipping Meals To Due To Inflation & Recession

October 25, 2022
1 In 4 Brits Are Skipping Meals To Due To Inflation & Recession

The impact inflation is having in the UK is no different than every country around the world.

The UK's problems are compounded by their decision a few years ago to lift price caps on energy bills.

The result is a compounding affect for individual consumers and families.

The challenge in the UK around discretionary spending is reflected globally :

1) 58% Of Americans Are Living Paycheck To Paycheck :https://www.linkedin.com/feed/update/urn:li:activity:6988149061447036928/

2) 36% Of Americans Earning $100,000+ Are Living Paycheck To Paycheck : https://www.linkedin.com/feed/update/urn:li:activity:6988149061447036928/

3) 30% Of Americans Earning $250,000+ Are Living Paycheck To Paycheck :https://www.linkedin.com/feed/update/urn:li:activity:6988149061447036928/

4) 41% Of Americans Are Turning To Gig Economy & Side Hustling To Make Ends Meet :https://www.linkedin.com/feed/update/urn:li:activity:6988149061447036928/

5) Nearly half of Canadians on the brink of insolvency: MNP survey : https://www.linkedin.com/feed/update/urn:li:activity:6989589912719081472/

6) 500,000 UK Small Businesses Are On Track To Stop Trading In 2022 : https://www.linkedin.com/posts/thomdamstra_250000-uk-businesses-stopped-trading-in-activity-6988867596066447360-bGwD/

90% of employees surveyed feel that they should be reimbursed for the business use of their personal IT assets : https://lnkd.in/gqYCyR-k

85% of employees surveyed in used their Personal IT assets in 2021 for business purposes : https://lnkd.in/gK-F38qE

59% of all employees surveyed get neither a cellphone nor reimbursement for BYOD : https://lnkd.in/gaz36TT9

80% of all employees surveyed get neither Home Internet provided for them nor reimbursed : https://lnkd.in/gaz36TT9

The above speaks to why there are the following developments :

1) 170m Americans in 24 US states are now required under new labour laws at the state level to be reimbursed : https://lnkd.in/gb-9UDEV

2) Class action lawsuits now off the charts (LA Times) due to failure to adequately reimburse for WFH and BYOD Smartphone Costs : https://lnkd.in/g8y5zenC

3) Before the pandemic and WFH started - Class action lawsuits for failure to adequately reimburse employees for BYOD and Smartphone costs were spiking : https://lnkd.in/gHibc2Re

4) Amazon Loses Request To Dismiss Class Action Lawsuit For Failure To Reimburse For Work From Home Connectivity Costs :https://www.linkedin.com/feed/update/urn:li:activity:6986674996915945472/

5) Many EU countries have passed similar legislation as the US on WFH Connectivity Reimbursement and it is accelerating : https://www.linkedin.com/feed/update/urn:li:activity:6778312565639516160/

6) Dutch government passes new labour law making it a mandatory employee right to Work From Home : https://www.linkedin.com/feed/update/urn:li:activity:6952239510952824832/

7) We predict that these class action lawsuits go global especially given the trend towards more favourable labour laws at the provincial level and the broad increases that were occurring in minimum wages prior to the pandemic starting

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Article Source : https://news.sky.com/story/more-than-four-in-five-britons-concerned-about-rising-cost-of-living-poll-for-sky-news-suggests-12614622