More separations in 2023?
More separations in 2023?
A report in the press (Daily Telegraph 23.12.22) based on research by PwC suggests that divorce rates will climb at the fastest pace since 1971 and unhappiness will reach the highest levels since record began next year, as stresses in the economy bite.
By comparison real wages in France are set to overtake British counterparts even though most employees across the Channel work fewer hours, PwC predicts, as real wages in Britain will fall back to levels last seen in 2006 next year.
A squeeze on living standards will see unhappiness among Brits climb to the highest levels since records began a decade ago and the Big Four consultancy firm also predicts a surge in marriage breakdowns next year after the Government made it easier for married couples to formally separate.
The number of people getting divorced in England and Wales is expected to rise 23pc to 140,000 next year in the biggest jump in more than 50 years. PwC expects to see a spike after the introduction of so-called "no-fault" divorces in April.
Official forecasts from the Office for Budget Responsibility (OBR) show half a million more people will lose their job over the next two years and families will be forced to tighten their belts due to rising prices.
House prices are expected to drop by 8pc, PwC said, and the number of house sales is predicted to fall below one million for the first time in a decade as people hang on to their properties amid the heightened economic uncertainty.
PwC have not picked up on the fact that a drop in house prices may case people not to separate simply because they may perceive greater difficulty in re-housing. There is always more than one way of interpreting statistics!
Please contact Joanna Gardner or Denise McCabe for specialist help and advice in all aspects of family law at joanna.gardner@smesolicitors.co.uk or denise.mccabe@smesolicitors.co.uk
Added: 23 Dec 2022 09:28
Back To Blog