Friday
July 7
2017

Will tech solve Britain’s heartbreaking ‘poverty premium’?

It’s a sad fact that the poorest people in the world pay more for basic goods and services.

For instance, in the UK every year the poorest households pay £490 more on average for the same things, like electricity, water and gas, as more wealthy homes.

It’s a totally backwards and unfair phenomenon called the ‘poverty premium’.

It happens because poorer homes are forced to buy things on credit rather than buying them outright, or pay their bills on expensive pre-pay meters rather than direct debit.

Surely there’s no greater challenge for technology to solve.

Source: The Memo (link opens in a new window)

Categories
Technology
Tags
accelerator, credit, poverty, poverty alleviation, UK