Young people worry about food

Words Destiny Fakoya

According to research, more than a third of young people plan to leave school or training to start working, and nearly half of them are concerned that they won't be able to afford food this winter. The Prince's Trust study indicated that 46% of 16 to 25-year-olds in Britain were concerned about not having enough money to buy necessities like food, toiletries, and clothing. The future seems bleak for many young people as they weather the chaos that has ensued due to the economic crisis and inflation.

The pound has spiralled since the Chancellor Kwarteng announced the £45p tax cuts resulting in increased interest rates and economic turmoil. For low income earners and middleclass families, increased interest rates result in higher mortgages that don’t proportionally affect or increase in their wages. Young people are struggling with cost of living crisis, rent and energy bills along with necessities such as food and clothing. The survey of 2,000 young people carried out by The Prince’s Trust also found that a quarter skipped meals to reduce spending with 14% using food banks in the last year. Even with the U-turn made by the Chancellor Kwarteng and Prime Minister Ms Truss on the 45p tax package the damage on cost of living, value of the pound and mortgages prices has already been affected.

As mortgages and rents become more expensive people are being cripped on the weight of the interest rate. Shelter has highlighted that almost 2.5 million people are behind or constantly struggling to pay their rent - an increase of 45% since April 2022. With such dismal prospects may young people are worried about what the future holds with 60% feeling uncertain about it and more than half (51 per cent) being concerned about job security. Along with wages that barely cover their rent or mortgage rates rose

More than a third of those surveyed also said that their salary no longer covered their rent or mortgage, as landlords increase rent prices and average mortgage rates rose when the market was plunged into turmoil last week.

The needs to be cooperation among businesses, governments, charities and the public to support young people as they perserve this economic crisis.