How Covid-debt impacts gender equality

Several reports released to coincide with International Women’s Day exposed the pandemic’s detrimental extent on women. While COVID has affected all our health, finances, unemployment, and debt, it has also exacerbated economic and gender inequalities. Is Covid debt a female problem?

Widening the gender pay gap

A new Mumsnet poll revealed that 30% of women were adversely affected by the pandemic. Many women have been pushed into unpaid care work and childcare, sacrificing their careers and future pensions. According to the Office for National Statistics, women with dependent children are seven times more likely to work part-time than men. 

Unfortunately, these pressures strongly correlate with insolvency figures; more than half of the UK’s indebted population are women. Mothers, single parents, young, disabled and BAME women are particularly likely to be in arrears.

Help to bridge the gap

While the Government is looking into the economic recovery, the focus should be on women. From better childcare options, flexible working arrangements, to retraining into high growth sectors. But this will require a mental shift and more women in the decision-making rooms.

Please share this A to Z list of support services, organisations and charities that offer advice and support around mental health and managing finances across the South East. If your business is struggling financially and you need help with understanding your options, please contact us for impartial advice.

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