A NEW study has revealed that more than 70 per cent of residents across the southwest region want a pay rise - due to the rise in cost of living.

Finance experts at Forbes Advisor sought to discover how many Brits have considered asking for a pay rise due to the cost of living crisis.

A total of 72.9 per cent of southwest residents have considered asking for a pay rise due to the cost of living crisis.

The figures also show 5.3 per cent of southwest employers have voluntarily offered financial compensation due to the cost of living crisis, while 13.4 per cent of southwest employees have actually asked their employer for a rise.

For those who did ask, 26.7 per cent were awarded a pay rise by their employer - above the national average of 26 per cent.

The age group which were least likely to consider asking for a pay rise were those aged over 54, at 69 per cent. Conversely, those aged 18 to 24 were least likely to be awarded a pay rise.