Over 55s spend more on debt than food

Responding to a report out today from Aviva Insurance that claims over 55s in Wales are spending more on paying off their debts each month than on food, Age Cymru’s Iwan Rhys Roberts says:

“Today’s figures are yet another indicator of the financial hardships facing many older people across Wales.

“Projections from the Institute of Fiscal Studies suggest that levels of poverty will not change in coming years unless news measures are introduced.

“This is why there must be a coordinated strategy and approach between the Welsh Government the UK Government to battle against and reduce poverty among older people – including a long-term commitment to progressively reduce poverty year-on-year.”