Roll-out of the controversial Universal Credit to three million people has been postponed by Work and Pensions Secretary Amber Rudd. MPs were due to take a vote on extending the benefit to three million recipients in the next few weeks, but that vote has been pushed back and now they will only be asked to …
Britain’s unsecured debt mountain has reached a new record of £428 billion, according to research done by the TUC. The investigation showed that non-mortgage debt rose by an average of £886 per household to £15,385. Highest ever The TUC arrived at its figure by adding up all forms of unsecured lending including credit cards, store …
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The energy price cap which came into force on New Year’s Day is expected to save millions of people across the UK £76 a year on their energy bills. But consumer groups claim householders could save even more money by switching their supplier. Typical Regulator Ofgem says the new cap means that a dual fuel …
Experts say Britain is in the grip of a debt crisis with millions of people struggling to pay their day to day bills. Europe’s largest debt collector Intrum says more than a quarter of Britons don’t have their finances under control with parents struggling to make ends meet. Falling into debt Debt charity StepChange reported …
Plans unveiled by energy regulator Ofgem could cut £45 a year from energy bills across the country. The strategy involves capping the amount of money suppliers can pay their investors, reducing borrowing costs and a range of measures already announced to reform the way the network charges are passed on to consumers. Rate of returns …
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Millions of elderly and vulnerable people could suffer as Britain sleepwalks into becoming a cashless society claims a new study. A report by former Chief Ombudsman Natalie Ceeney says banknotes and coins are a necessity for eight million people. Concern was also expressed for people living in rural areas or struggling with debt. The Access …
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A million British children under the age of 10 are facing ‘Dickensian’ poverty in the run-up to Christmas claims a new charity report. Action For Children analysed government figures on low income families who are suffering from material deprivation. Austerity and Universal Credit It challenges government claims that 300,000 fewer children are living in poverty …
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A mental health charity has claimed that 100,000 people in problem debt attempt suicide every year and as many as half a million think about it. Research by the Money and Mental Health Policy Institute (MMHPI), founded by finance expert Martin Lewis, said problem debt takes a ‘devastating mental toll’ on tens of thousands of …
As Britain’s credit card debt hits £17.1 billion, shoppers are being warned about the consequences of ‘binge borrowing’ and paying for Christmas on plastic. Statistics from UK Finance have revealed the record debt mountain last month showed credit card spending 11.6% higher than last year. Warning Charities are warning that families risk being caught in …
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Christmas comes but once a year and when it does it brings …… massive temptation to overspend. We all like to enjoy ourselves at Christmas. But too many of us who are sensible during the rest of the year adopt a live now, pay later attitude over the festive period Put it on plastic Research …