Pawnbroker profits in the UK are up – the industry has been a constant through history for people in poverty

For a clear signal that the cost of living is still biting for many, you just need to look at how business is booming at the UK’s largest pawnbroker, H&T. The company recently reported a 12.5% rise in pre-tax profits to £9.9 million for the first half of 2024.

Some media outlets have been quick to link these profits to rising poverty and the cost of living. There are stories of people who have used pawnbrokers out of desperation...