Survey finds spike in financial worry for British Columbians amidst pandemic

BRITISH COLUMBIA—An increase worry amongst British Columbians when it comes to consumer debt according to a new survey.

MNP’s Consumer Debt Index complied earlier this month by Ipsos showed that four in 10 people are worried about their current debt levels—a nine point jump from the previous information compiled in December, and the highest percentage ever recorded since tracking began in 2017.

“Our results underscore how vulnerable Canadian households are to income interruption. Over the next few months we’ll likely see an unfolding of two crises: the global pandemic and the bursting of the Canadian consumer debt bubble,” says Grant Bazian, President at MNP LTD.

The survey also found that against the backdrop of the COVID-19 pandemic, nearly three in then British Columbians say they are worried that either themselves or someone in their household could lose their job ,an increase in six points since December.