Four out of 10 UK households have had a cut in their income due to the pandemic, according to a survey.

The findings lay bare the widespread impact of the crisis on people’s incomes as jobs are lost or pay is cut, freelancers have work cancelled and businesses struggle.

More than half of respondents (55 per cent) to the poll of 2,000 adults said they were rapidly reassessing all their outgoings, including cars, shopping and holidays.

Over a quarter (28 per cent) also said they are considering renting out things they own in order to make extra income.

Karshare, a peer-to-peer car sharing company who carried out the research, said the same number said they would consider sharing or renting their car.

But the firm said this was not just due to the need to increase income — but also from “a greater sense of community” after neighbourhoods pulled together during lockdown.

Half of respondents (49 per cent) said they felt a greater sense of community during the pandemic.

Hundreds of car owners in London have offered their vehicles to NHS staff and charity workers through Karshare during the pandemic.