Working together to improve the
financial lives of people and communities in Nottingham
Community dialogue I High level strategic commitment I Independent, cross sector group I Hub & spoke model I Measuring impact
ANNUAL GENERAL MEETING,
23 MARCH 2021
(Please contact us if you would like to know more)
With nearly eighty people in attendance, from all sectors across the city, Nottingham Financial Resilience Partnership held a conference on tackling the impact of COVID-19 on people’s financial well-being in the city. The event, held via Zoom, included key presentations, workshops and a Panel session which concluded with commitments from Panel Members to be taken forward. We will be following up on these and reporting more on progress in December. Watch this space for updates.
One in five people in Nottingham are over-indebted
Debt is a huge problem in Nottingham. The Money Advice Service have calculated that a fifth of Nottingham’s residents are over-indebted. Nottingham has the highest level of people over-indebted of any upper tier, local authority in the UK and the fourth highest level of over-indebtedness of any lower tier, local authority.
Over-indebtedness is defined by MAS as someone who finds meeting monthly commitments a heavy burden and/or who is regularly in arrears with bills.
Take home pay in Nottingham is one-fifth of that of residents of West London in 2017
Nottingham is the city with the lowest incomes in the UK, where residents’ take-home pay is only one-fifth of the disposable income enjoyed by people in west London.
The average household income per head, once taxes and benefits are taken into account, is only £12,232 in Nottingham, compared to £58,816 in Kensington and Chelsea, and Hammersmith and Fulham in west London.