One in two believe riots partly caused by debts

In the week when Prime Minister David Cameron has said that the rioters need some 'tough love', a survey has revealed that nearly half of all Brits believe that financial pressures played a significant role in the recent riots that devastated London and other cities across the UK.

Mr Cameron has vowed to help 120,000 of the poorest families in the UK in order to directly address some of the problems, saying that there would be a turnaround by 2015 at the latest.

However, insolvency specialist body R3 has carried out a survey that has revealed that close to one in two people in the UK believe that debts contributed to rioting. In addition, more than nine out of ten people interviewed said they thought the ease of access to finance had led to individuals believing that they were entitled to have the best of everything.

The R3 research found that 47% of respondents believed that the riots had been sparked partially by financial difficulties and debts caused by the economic climate in the country right now. But 92% of those asked also said that the financial services industry were partly to blame for providing credit far too easily, leading to a generation of youngsters who wanted the best of everything, even if they did not have the resources to pay for it themselves.

Nearly one in three people – 29% - also said that in times of economic instability, remaining within the law becomes much more difficult. But despite this, an overwhelming majority – 96% - said that personal indebtness or financial problems, no matter how severe, could never be a good enough reason to commit crimes.

The responses to the questions posed by R3 demonstrated a split in opinion between the ages, with older people being far less willing to blame the riots on poverty and financial problems. Nearly three in four 18-24 year olds – 71% - said that debts were a major contributing cause but only around four in ten – 38% - of those aged over 65 were inclined to agree with this explanation.

The younger generation also thought it was more reasonable for people to commit illegal acts when the country was suffering overall with debts, with nearly one in two – 46% - of 18-24 year olds agreeing. However, just one in four – 24% - of 45-64 year olds thought this was reasonable, with 28% of over 65s agreeing.

A spokesperson for R3 said that they had seen a dramatic rise in the amount of personal debt problems in recent years, with over one in four insolvencies caused by individuals trying to lead a lifestyle which was beyond their financial limitations. R3 also said that four out of five bankruptcies were directly as a result of consumer debts, with the ease that credit had been obtained a significant factor.

The insolvency body also said that the rising cost of living was another reason for the financial pressures that many households across the UK were facing.

The spokesperson for R3 added that the riots will undoubtedly have an impact on many businesses but that so far, creditors had indicated they would be willing to allow some leeway whilst firms get back on their feet.

The Prime Minister, however, has said that he believes the riots are nothing more than 'straightforward criminality' and has vowed to make additional help available to those families who need it. David Cameron declined to give a definitive answer when asked by the BBC about how much extra cash would be made available to pay for the measures, but said that any money spent on improving problems areas could be seen as a 'great investment to save money for the country'.