Debt news – 27 March 2022 · Debt Camel

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Obviously the most important news remaining week was once the Spring Statement. Well we’re going to want extra debt recommendation than ever, after that…

The Spring Statement

Top of the Charts: Spring Statement special Resolution Foundation: Clearly the massive drawback for this Spring Statement was once headlining on an Income Tax minimize day after today whilst refusing to make sure advantages stored tempo with surging inflation as of late. 

UK living standards ‘to fall at fastest rate since mid-1950s’ Guardian: the OBR stated the beef up measures – price a mixed £17.6bn – would most effective cushion a few 3rd of the hit to dwelling requirements, whilst the chancellor’s tax cuts would most effective undo about one-6th of the whole tax will increase he had prior to now introduced.

Marmot calls for health disparities white paper to be renamed Local Government Chronicle: “It doesn’t appear that [Rish Sunak] did much for poor households,” stated Professor Marmot. “Well, he did a bit. He did increase the number of households that are going to be in poverty, but not very much to relieve the cost-of-living problems.”

Drivers FURIOUS as fuel prices fail to drop at forecourts after 5p duty cut in Spring Statement Sun: the drop most effective takes the typical pump worth again to the place they have been simply over per week in the past, the RAC stated.

Debt news

Supporting consumers through tough times – priorities for credit regulation FCA: Our personal enjoy is that companies have too continuously failed to fulfill our expectancies on affordability, together with relending. We see no case for reducing those requirements – we received’t lend a hand customers one bit by means of making it more uncomplicated for corporations to lend them cash that they are able to’t pay again.

Access to debt advice during Covid-19 pandemic MaPS: In-person debt recommendation services and products delivered in group settings will proceed to very best meet the wishes of a few shoppers, in particular for the ones coping with extra complicated issues. Although figuring out who those shoppers are would require additional analysis. My remark – it actually isn’t that tough…

Fully funded debt advice services essential as cost of living crisis blights millions of lives Unite: Community debt advisers are at the entrance line in the price of dwelling disaster. Their recommendation and experience is very important to lend a hand households deal with monetary demanding situations

Swimming with Sharks CSJ: Tackling unlawful cash lending in England

“they sort of made it say that” Debt Advice Diaries – an IVA mis-bought to a consumer who wanted a DRO

Number of UK households with large debts rises by a third Guardian: Britons struggled even sooner than wintry weather upward thrust in power costs and advantages minimize, analysis presentations

Families are feeding themselves using buy now, pay later: Now Natwest becomes first High St bank to offer the easy credit Mail: Under NatWest’s plans, consumers will be capable to break up the price of purchases into a number of repayments with maximum shops that settle for Mastercard.

Benefits & different news

Update on Children with No Recourse to Public Funds Parliamentary Statement: we can completely prolong eligibility without cost college foods to youngsters from all households with NRPF, topic to the source of revenue thresholds

Gambling addiction could be nine times higher than industry claims Guardian: Landmark learn about reveals 1.4m being harmed and 1.5m in danger as govt readies to unveil reform

Lloyds Banking Group to shut 60 UK branches, including Bank of Scotland, Lloyds and Halifax outlets MSE: Elsewhere, HSBC introduced remaining week that it could shut 69 branches throughout the United Kingdom between July and October this yr, whilst NatWest Group stated it could close 32 of its NatWest and RBS branches between May and July this yr.

Discriminatory pricing: Exploring the ‘ethnicity penalty’ in the insurance market Citizens Advice: other people of color is also paying £250 extra a yr for his or her automotive insurance coverage than White other people. 

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Published by Fahr Faisal