Money worries cause emotional and physical effects on 15.6 million adults, yet Britain considers gun crime and terrorism of greater importance, a new report has revealed.

A study published by insurance provider AXA found that when questioned about the social issue most affecting them personally, 43 per cent of respondents listed financial concerns.

However, when questioned about the social issue most affecting Britain, only 21 per cent listed money trouble.

Steve Folkard, spokesman for AXA, said money worries need to be recognised as a "major social issue" as they affect a far greater number of people than those directly touched by terrorism or gun crime.

He said: "The research highlights the impact money problems is having on millions of people … yet it is still not treated by individuals or the government as a problem worthy of the level of media attention given to these other issues."

Earlier this year, research conducted by Alliance & Leicester found 3.4 million Britons listed money as the biggest issue in their lives, with 18 per cent admitting they worried about it every day.