A new poll by Kantar found that 32% of Britons had seen their incomes fall, 37% of whom said their earnings had been halved or cut by more than half.
The steep rise in unemployment created by the crisis has also left many with no income from work at all, with 16% of those who have been financially impacted saying they were no longer able to make money.
Following international lockdowns in an attempt to stem the spread of the Coronavirus, global economies have fallen into a steepest recession since the Great Depression of the 1930s. Economists have warned that its impacts will be far worse than those seen after the financial crash in 2008.
The Institute of Employment Rights (IER) warns against a relaunch of the austerity measures the UK government has pursued since 2010, which have disproportionately affected the country’s poorest and most vulnerable workers.
Instead, policymakers should focus on promoting a fair distribution of the burden of the recession by providing workers with the legal rights they need to have an effective voice at work.
The IER’s proposals for post-pandemic protections will be launched in the coming weeks.