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Jacques Wels, Research Fellow, MRC Unit for Lifelong Health & Ageing, UCL

Credit payment holidays reduced the mental health effects of debt during COVID – new research

Gorodenkoff/Shutterstock

Like other countries, the UK implemented a number of initiatives to mitigate the effects of the COVID-19 pandemic on people’s economic circumstances. While we know these schemes supported household finances, now we’re beginning to understand how they affected mental health.

For instance, a 2022 study showed the COVID job-retention scheme (furlough) protected workers from mental health decline due to job loss.

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