- Friday, 28 August 2009The British public has shown signs of a failure to understand fully the financially intricacies of their bills.
Research from uSwitch.com indicates that 86 per cent of people are unable to make an energy bill add up.
An inability to comprehend finances could see an increase in the number of people struggling financially. As a result the national IVA take-up rate could also increase.
Ann Robinson, director of consumer policy at uSwitch.com, said: "You shouldn't need to be an 'A' grade student to be able to understand your energy bills. It's deeply worrying that only 14 per cent of people have passed what should be a straightforward test."
The concerning figures were reached despite the fact that people were allowed to use a calculator.
Despite wholesale costs decreasing by 50 per cent, many Britons are being overcharged for the energy, Consumer Focus has revealed.
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