Unite the union estimates that the average monthly pay of its members is £150 less than a year ago, and 82 per cent who responded to a union survey said that their wages didn't last the whole month.
Of those 38 per cent had to be helped by family and friends, 29 per cent had a second job or fell back on their savings, 21 per cent had an overdraft or used credit cards and 12 per cent had to resort to payday loans. Money that had to be borrowed was used mainly to pay for rent or mortgage or fuel bills or to put petrol in the car.
• In a separate report on the £2 billion a year payday loan business, Which? found that borrowing £100 for 30 days cost from £15 to £40. In one case with interest, fees, interest on the fees, debit/credit card charges, etc, the repayment on a £150 loan for 28 days would have been £205. ■