This statistic presents the assessments of British men and women of the financial problems of their family, as of June 2014. Approximately 26 percent of British men and 30 percent of British women agreed with the statement "My financial situation is causing stress for me and my family".

The classification of finiancial crisis interventions

Source agency: Office for National Statistics

Designation: Supporting material

Language: English

Alternative title: Financial Crisis and Statitical Classification

This project will explore the impact of the economic recession on cities and households through a systematic comparison of the experiences of two English cities, Bristol and Liverpool.The research will use both quantitative and qualitative approaches. Interviews will be held in both cities with stakeholders from across the public, private and voluntary and community sectors. A social survey of 1000 households will also be conducted in the two cities covering 10 specific household types. A series of in-depth qualitative interviews will then be held with households drawn from the survey and chosen to illustrate the spectrum of experience.In the context of globalisation and the rescaling of cities and states, the research aims to develop our understanding of the relationship between economic crisis, global connectivity and the transnational processes shaping cities and the everyday lives of residents. It will explore the 'capillary-like' impact of the crisis and austerity measures on local economic development, and local labour and housing markets, as well as highlight the intersecting realities of everyday life for households across the life course.The research will document the responses and coping strategies developed across different household types and evaluate the impact and effectiveness of 'anti-recession' strategies and policies.

With the onset of the Global Financial Crisis in the late Summer of 2007, the United Kingdom was one of the first countries to experience financial panic after the United States. In September 2007, the bank Northern Rock became the UK's first bank to collapse in 150 years due to a bank run, as depositors reacted to the announcement that the bank would be seeking emergency liquidity support from the Bank of England by lining up outside their bank branches to withdraw money. The failure of Northern Rock was a bad omen for the UK economy and financial sector, as banks stopped lending to each other and to customers in what became known as the 'credit crunch'. Government bailouts, private bailouts By October 2008, many UK banks were facing a situation where if they did not receive external assistance, then they would have to default on their debts and likely have to declare bankruptcy. The UK's Labour government, led by Prime Minister Gordon Brown, announced that it would provide emergency funds to stabilize the banking system, leading to the part or full nationalization of some of Britain's largest financial firms. Specifically, Royal Bank of Scotland, Lloyds TSB, and HBOS received over 35 billion pounds in a government cash injection, while Barclays opted to seek investment from private investors in order to avoid nationalization, much of which came from the state of Qatar. The bailouts caused UK government debt ratios to almost double over the period of the crisis, while public trust in the financial system sank.

This statistic shows the United Kingdom (UK) financial and insurance industries gross value added (GVA) as a share of the UK's total economic output. It can be seen that in the years running up to the global financial crisis the United Kingdoms finance and insurance industry became a major factor of its economic gross value added output. in 2009 (one year post financial crisis) the UK's finance and insurance industry accounted for nine percent of its GVA. Since then there has been a steady decrease amounting to 6.9 percent as of 2018. In 2017, London accounted for almost half of financial sectors GVA.

In 2024, data security was the leading concern for UK financial services organizations seeking to scale generative AI, with 33 percent of survey respondents identifying it as their primary barrier. Organizations also cited regulatory uncertainty, accuracy concerns, and skills gaps as significant obstacles to adoption.

Graph and download economic data for Net Issues of International Debt Securities for Issuers in Non-Financial Corporations (Corporate Issuers), All Maturities, Nationality of Issuer in West Indies UK (DISCONTINUED) (IDSGNFAMNINI1Z) from Q3 1994 to Q2 2012 about British West Indies, issues, nonfinancial, maturity, debt, securities, corporate, and Net.

Employment in the financial services sector in the United Kingdom fell between 2001 and 2021. The total number of people employed in this sector amounted to approximately 1.1 million in 2021, a figure that is unchanged since 2009. This was a decrease compared to pre-global recession figures, when on the British market there were 1.2 million people employed in all subsectors of financial services. These figures have decreased as a result of the crisis and closure of bank branches across the country.

The closing of bank branches

The increasing usage of online banking has resulted in a large number of bank branch closures in the United Kingdom. Many banks have seen dramatic declines in their number of branches in the last few years. The branch closures have become a way for the banks of decreasing expenditure as profit margins become tighter.

Financial service sector

Financial services, which include banks, credit unions, credit-card companies, accountancy firms, insurance companies as well as financial service companies are an integral part of any economy. The banking sector assets as percentage of gross domestic product (GDP) was approximately 378 percent in 2019.

Graph and download economic data for Net Issues of International Debt Securities for Issuers in Other Financial Corporations, All Maturities, Nationality of Issuer in United Kingdom (DISCONTINUED) (IDSGFCAMNINIGB) from Q1 1987 to Q2 2015 about issues, finance companies, companies, finance, United Kingdom, maturity, financial, debt, securities, and Net.

Over the five years through 2024-25, the Financial Management industry's revenue is set to dip at a compound annual rate of 0.2% to £13.7 billion, caused by unfavourable demand conditions following the cost-of-living crisis and the COVID-19 outbreak. The pandemic damaged mergers and acquisitions, dropping from £55.6 billion in 2019 to £16.3 billion in 2020 according to the ONS. The cost-of-living crisis further reduced consumer spending, extending economic difficulties into winter 2023 and triggering a recession. These factors decreased business investments in financial management services as companies focused on cutting costs. Despite these obstacles, the industry maintained stability by offering countercyclical services, aiding businesses in efficient cost management while maintaining operations. Since the EU's 2016 Audit Regulation and Directive limited non-audit fees, financial managers have expanded client bases and explored new income sources to balance these caps. With a 2026 deadline to separate audits from non-audit services, pressure is high, particularly for top companies like the Big Four. Technological advancements are also enabling companies to perform tasks internally that were traditionally outsourced to consultants, tightening the market, especially for smaller clients. Intensified competition and decreased demand are driving the financial management sector towards greater innovation. Following a five-year downturn, business spending has begun to recover in 2024-25, driven by increased M&A activity. Business confidence reached an 11-month high in March 2024, according to S&P Global Flash UK PMI. With inflation cooling to 3.2% in March 2024 from 10.1% the previous year, more resources have been available for financial management and M&A efforts. Revenue is expected to grow by 4.9% in 2024-25. Over the five years through 2029-30, industry revenue is forecast to swell at a compound annual rate of 3.3% to reach £16.1 billion. Improving economic conditions and continued business confidence will push more businesses to increase their spending and invest in M&A activity, increasing demand for advice on managing their finances. In addition, continued low inflation will aid costs for both financial managers and their clients, bolstering profit.

Pre and post crisis (UK based companies) from 1st to 3rd digits Benford’s Law on net annual income of companies in UK.

The UK retail banking market, valued at approximately £68.77 billion in 2025, is projected to experience steady growth, driven by several key factors. The increasing adoption of digital banking solutions, including online platforms and mobile apps, is significantly impacting market dynamics. Consumers are increasingly demanding convenient and personalized financial services, prompting banks to invest heavily in technological upgrades and user-friendly interfaces. Furthermore, the rise of fintech companies is fostering competition and innovation, leading to the introduction of new products and services, such as mobile payment systems and personalized financial management tools. While Brexit initially presented challenges, the market has shown resilience, with banks adapting to new regulatory environments and focusing on strengthening customer relationships. The segment showing the strongest growth is likely online banking, driven by younger demographics' preference for digital interactions and increased smartphone penetration. However, the market also faces constraints such as increasing regulatory scrutiny, cybersecurity threats, and the need for continuous investment in technology to maintain a competitive edge. Growth in the wealth management segment will also contribute to the overall market expansion, fueled by a rising affluent population and increasing demand for sophisticated investment services. The continued expansion of the market is expected to be spread across multiple channels, reflecting the diverse preferences of UK consumers. The projected Compound Annual Growth Rate (CAGR) of 3.45% suggests a consistent, albeit moderate, expansion of the UK retail banking market over the forecast period (2025-2033). This growth is likely to be influenced by macroeconomic factors such as economic growth, inflation, and interest rates. The market's segmentation highlights the diverse nature of customer needs, with significant opportunities for banks to cater to specific demographics, such as high-net-worth individuals and small businesses. Strategic partnerships with fintech companies and the development of innovative financial products tailored to specific segments will play a crucial role in determining future market leaders. The continued dominance of established players such as HSBC, Barclays, and Lloyds Banking Group is anticipated, but they will likely face increased competition from challenger banks and international players. The overall market outlook remains positive, contingent upon maintaining macroeconomic stability and sustained consumer confidence. This in-depth report provides a comprehensive analysis of the UK retail banking market, covering the period from 2019 to 2033. It delves into market dynamics, competitive landscapes, and future growth projections, providing invaluable insights for businesses and investors operating within or considering entry into this dynamic sector. The report utilizes data from the historical period (2019-2024), with a base year of 2025 and a forecast period spanning 2025-2033. The study highlights key trends, challenges, and opportunities within the £XXX million market. Recent developments include: August 2024: Lloyds Bank launched a USD 137 cash offer for students opening current accounts. To qualify, students must deposit at least USD 622 between August 1 and October 31, 2024. Student account holders will also receive a 20% discount on selected Student Union events and can earn 2% interest on balances up to USD 6,219.September 2023: HSBC pioneered a partnership with Nova Credit, making it the first UK bank to allow newcomers to access their credit history from abroad. This initiative aims to facilitate smoother financial integration for individuals relocating to the United Kingdom.. Key drivers for this market are: The Shift Toward Digital Banking, with Customers Increasingly Using Online and Mobile Banking Services. Potential restraints include: The Shift Toward Digital Banking, with Customers Increasingly Using Online and Mobile Banking Services. Notable trends are: Deposit Trends and Digital Transformation Driving Traditional Banking.

In January 2004, a consortium of public and private sector organisations commissioned Warwick Business School to carry out the United Kingdom Survey of Small- and Medium-sized Enterprises' (SME) Finances, 2004. This was the first representative survey of SMEs to offer a close analysis of businesses with fewer than 250 employees, their main owners and their access to external finance. A second survey was conducted in 2008, where business owners were interviewed by telephone about the finances they have used or applied for in the last three years, their financial relationships, the characteristics of the business and personal details.

In 2007, another consortium of UK public sector bodies, small business representative organisations and finance providers agreed to sponsor a similar survey to the 2004 survey, conducted by the Centre for Business Research based at the University of Cambridge. This study is held at the UKDA under SN 6049, with the title United Kingdom Survey of Small- and Medium-Sized Enterprises' Finances, 2007. It aimed to compile another benchmark and to identify any changes or trends that had emerged since 2004, but made a number of changes to the 2004 questionnaire, so that it is not a direct member of the UKSMEF series, but stands alongside it as a separate cross-sectional survey. The UKSMEF 2008 survey was conducted by the same Principal Investigator as the 2004 survey, based at Warwick Business School, and the 2008 report provides direct comparison between the 2004 and 2008 surveys.
The aims of the 2009 survey were to:

• provide benchmarking data on the availability of credit to SMEs and the types of finance used
• collect information on the relationship between SMEs and their providers of finance
• develop a general purpose micro database for quantitative research on business finance (offering, for example, scope for comparisons with the US Survey of Small Business Finances)

The 2009 sample consisted of 1,250 follow up interviews with businesses interviewed for the 2008 survey. Telephone interviews were conducted by IFF Research Ltd during autumn 2009. These interviews focused on the cost and availability of overdrafts and term loans to businesses in the previous year due to policy makers concerns about the affect of the Credit Crisis on bank lending to SMEs. The data can be used for panel data analysis, in conjunction with UKSMEFs 2004 and 2008, or for standalone cross-sectional analysis. A set of population weights is included in the dataset so that this analysis can be weighted to the UK SME population. These weights were calculated using statistics provided by the Department of Business, Innovation and Skills Enterprise Directorate - see Business population estimates, formerly 'SME Statistics'.

Further information may be found on the ESRC UK Survey of SME Finances 2009 Follow On Study award webpage.

Underlying data from annex B for the report that uses data from the YouGov DebtTrack surveys to update trend information about credit use and the extent of consumer indebtedness in Britain. The analysis suggests a continued decrease in the proportion of households using unsecured credit, but little change in the average amount of unsecured debt among credit users. The data also indicated a decline in the incidence of financial difficulty.

Underlying data from the publication Credit debt and financial difficulty in Britain 2009-10. A report using data from the YouGov DebtTrack survey [URN 11/963]

Abstract copyright UK Data Service and data collection copyright owner.

The Great Britain Historical Database has been assembled as part of the ongoing Great Britain Historical GIS Project. The project aims to trace the emergence of the north-south divide in Britain and to provide a synoptic view of the human geography of Britain at sub-county scales. Further information about the project is available on A Vision of Britain webpages, where users can browse the database's documentation system online.

Main Topics:

Hours worked in coal-mining for United Kingdom and Ireland coalfields 1900-13.

Please note: this study does not include information on named individuals and would therefore not be useful for personal family history research.

The gross domestic product of the United Kingdom was around 2.56 trillion British pounds, an increase when compared to the previous year, when UK GDP amounted to about 2.54 trillion pounds. The significant drop in GDP visible in 2020 was due to the COVID-19 pandemic, with the smaller declines in 2008 and 2009 because of the global financial crisis of the late 2000s. Low growth problem in the UK Despite growing by 0.9 percent in 2024, and 0.4 percent in 2023 the UK economy is not that much larger than it was before the COVID-19 pandemic. Since recovering from a huge fall in GDP in the second quarter of 2020, the UK economy has alternated between periods of contraction and low growth, with the UK even in a recession at the end of 2023. While economic growth picked up somewhat in 2024, GDP per capita is lower than it was in 2022, following two years of negative growth. UK's global share of GDP falling As of 2024, the UK had the sixth-largest economy in the world, behind the United States, China, Japan, Germany, and India. Among European nations, this meant that the UK currently has the second-largest economy in Europe, although the economy of France, Europe's third-largest economy, is of a similar size. The UK's global economic ranking will likely fall in the coming years, however, with the UK's share of global GDP expected to fall from 2.16 percent in 2025 to 2.02 percent by 2029.  

United Kingdom BoP: FA: Lia: PI: DS: LT: Other Sectors Issues data was reported at 15,416.000 GBP mn in Jun 2018. This records an increase from the previous number of 2,126.000 GBP mn for Mar 2018. United Kingdom BoP: FA: Lia: PI: DS: LT: Other Sectors Issues data is updated quarterly, averaging 3,514.500 GBP mn from Mar 1987 (Median) to Jun 2018, with 126 observations. The data reached an all-time high of 55,813.000 GBP mn in Dec 2008 and a record low of -46,780.000 GBP mn in Sep 2012. United Kingdom BoP: FA: Lia: PI: DS: LT: Other Sectors Issues data remains active status in CEIC and is reported by Office for National Statistics. The data is categorized under Global Database’s United Kingdom – Table UK.JB010: BPM6: Balance of Payments: Financial Account: Portfolio Investment.

Public sector net debt amounted to 95.8 percent of gross domestic product in the United Kingdom during the 2024/25 financial year, or 90 percent when the Bank of England is excluded. UK government debt is at its highest levels since the early 1960s, due to a significant increase in borrowing during the COVID-19 pandemic. After peaking at 251.7 percent shortly after the end of the Second World War, government debt in the UK gradually fell, before a sharp increase in the late 2000s at the time of the global financial crisis. Debt not expected to start falling until 2029/30 In 2024/25, the UK's government expenditure was approximately 1.28 trillion pounds, around 44.7 percent of GDP. This spending was financed by 1.13 trillion pounds of revenue raised, and 151 billion pounds of borrowing. Although the UK government can still borrow money in the future to finance its spending, the amount spent on debt interest has increased significantly recently. Recent forecasts suggest that while the debt is eventually expected to start declining, this is based on falling government deficits in the next five years. Government facing hard choices Hitting fiscal targets, such as reducing the national debt, will require a careful balancing of the books from the current government, and the possibility for either spending cuts or tax rises. Although Labour ruled out raising the main government tax sources, Income Tax, National Insurance, and VAT, at the 2024 election, they did raise National Insurance for employers (rather than employees) and also cut Winter Fuel allowances for large numbers of pensioners. Less than a year after implementing cuts to Winter Fuel, the government performed a U-Turn on the issue, and will make it widely available by the winter of 2025.

United Kingdom Auto Finance Market Segmentation What Are the Regulations and Initiatives Governing the UK Auto Finance Market? Which Industry Challenges Have Impacted the Growth of the United Kingdom Auto Finance Market?