Which? responds to statistics showing UK households are more worried about finances than they have been in a decade

Rocio Concha, Director of Policy and Advocacy at Which?, said:

"These findings reflect Which? research showing significant falls in consumer confidence in the economy and future household finances. Worryingly, a third (34%) of people told us they would not be able to pay an unexpected bill of £300 either through their regular income or by dipping into savings.

"These numbers are only expected to increase as the cost of living crisis continues to worsen. The government must take urgent action to support the most financially vulnerable and ensure people can rely on robust consumer protections - giving regulators the powers needed to tackle any law-breaking behaviour where needed.

"Businesses should be providing appropriate standards of customer service and care to anyone who might be struggling financially. If a company is hiking bills, then they must provide transparent and clear information for consumers about the increases and how they will be affected."