Pandemic leaves residents feeling the pinch

Mon, 24 Aug 2020

A survey has found more than a third of Manx residents are expecting to feel the pinch of the coronavirus in the next few months.

Mounting bills, borrowing, and being unable to save have been cited as the main concerns of 34 per cent of those polled, who responded saying their situation would get a little or a lot worse going forward.

Economies across the globe are beginning to face up to the financial impact of the Covid-19 pandemic, with the Isle of Man Government imposing lockdown restrictions at the end of March.

Despite lifting most measures on June 15 – ahead of many neighbouring jurisdictions – the recent survey of more than 600 households has found only 18 per cent had seen their money matters improve.

Around 10 per cent say they are in debt as a result of the lockdown, while a quarter have had to dip into savings.

You can view the full results of the survey here.

 

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