Think tank Centre for Cities recently published its new report, 'An uneven recovery?', on spending, savings and debt throughout the Covid-19 pandemic, which uses Registry Trust County Court Judgment (CCJ) data.
The report looks at the nature of Covid-debt and Covid-saving in different parts of the country and what this means for the recovery of the UK’s largest cities and towns. Centre for Cities found that the encouraging predictions from the Bank of England of a quick post-pandemic recovery fuelled by Covid-saving is unlikely to take place evenly across the country. According to the report, in every urban area, affluent neighbourhoods have indirectly benefitted from the restrictions put in place to fight the pandemic, but in less affluent ones, people were less likely to cut their spending and more likely to see a drop in income and are therefore more likely to be struggling financially.
Given the implications of this for inequality in the economic recovery, Centre for Cities is calling for a number of interventions from the Government focusing on:
(1) supporting people with their immediate spending needs,
(2) with debt accumulated during the pandemic,
(3) protecting incomes, and
(4) levelling up for the longer term.
This is a great example of how the data we collect for the Register of Judgments, Orders, and Fines can be used for 'public good' to inform economic research and policy. Find out more about the services we offer to think tanks and other organisations here.