"Food or Warmth": What Do the British Choose at Christmas?

The Guardian reported on new research conducted by National Debtline, stating that "the worsening cost of living crisis will force British families to tighten their belts this Christmas." Data shows that "around 6.5 million people will struggle to adequately heat their homes during the holiday season, while 2.7 million will have to choose between buying food or gifts." According to the report, more than 14 million consumers plan to reduce the number of gifts they give this year, while 6 million said they "can only afford to buy gifts for children." David Chittle, the acting CEO of the Money Advice Trust, which runs National Debtline, stated: "This Christmas, the cost of living crisis is expected to be felt more than ever, as millions of people struggle to heat their homes and many face financial worries." The research revealed that over 24 million adults in the UK plan to use credit to pay for Christmas gifts this year. Among these, 12 million intend to use credit cards, while 4.7 million will use "buy now, pay later" loans to make purchases over time. Chittle continued: "We are still deeply concerned about the long-term impact that increased arrears will have on household finances through 2024 and beyond. After missing the chance to help those burdened by debt in the autumn statement, we continue to urge the government to provide a 'repayment support' plan for energy arrears and expand the household support fund that provides essential local support." Household debt in the UK is expected to rise from the current level of £73 billion ($92 billion) to £151 billion ($190 billion) by 2026.