Scots most worried in UK about cost of bills
SCOTS are more anxious about the price of food, fuel and energy than consumers elsewhere in the UK, a study has shown.
They are also more pessimistic about their household finances than consumers living south of the Border.
More than six out of ten Scots – 62 per cent – are worried about food prices, while 68 per cent are concerned about the cost of fuel.
The figures for the rest of the UK were 31 per cent and 64 per cent respectively.
Scottish consumers also anticipate having to increase their spending on ‘must-pay’ bills such as energy and groceries in the next 12 months, according to the study carried out by consumer group Which?.
A third of Scots said they expected to see the cost of running their vehicles rise over the next year.
And around a fifth said that they anticipated having to pay more in mortgage repayments or rent.
The study also found that 18 per cent of Scots expect their household finances to get ‘a lot worse’ over the next 12 months, compared with 11 per cent of people across the rest of the UK.
Concerns among Scots consumers were thought to be fuelled by a high level of ‘financial distress’.
A greater proportion of consumers north of the Border are resorting to payday loans, unauthorised overdrafts and defaulting on bills in order to make ends meet, compared to their counterparts in the UK as a whole.
According to the Which? Scottish Consumer Insight report, 59 per cent of Scots are also worried about Brexit compared with 51 per cent of their southern counterparts.
The report states that over the next year Scots are ‘likely to reduce spending on “luxury” items, such as on socialising and eating out, big ticket household items such as TVs or washing machines, and alcohol or tobacco’.
It added: ‘Worryingly, consumers felt they might have to decrease the amount they could put away into savings and investments as a result of rising bills on the essentials.’
The report said: ‘Scottish consumers demonstrate a greater level of concern about nearly all consumer issues than their southern counterparts.’
However, the study found that trust in banks has risen among Scots – from 35 per cent to 41 per cent since last year – while more than a third said they trust suppliers of gas and electricity.
The water industry is the most trusted, at 69 per cent, with car dealers least trusted, at 9 per cent.
Alex Neill, Which? managing director of home products and services, said: ‘Our research shows many Scottish people are struggling with day-to-day consumer issues, such as their fuel and energy bills, and believe the situation could get worse over the next year.
‘With the Scottish Government due to set out its plans for its new Consumer Scotland body, there is a prime opportunity to establish an organisation which can tackle these concerns and restore consumer trust in critical services.’
‘People are struggling’