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StepChange Debt Charity response to Autumn Statement

23 November, 2016

In response to the Autumn Statement, Mike O’Connor, Chief Executive of StepChange Debt Charity, said:

“Today’s Autumn Statement was a missed opportunity to put in place the measures that are needed to help the ‘just about managing’ to manage with some hope of stability. Welfare changes in the pipeline leave many people dangerously close to not managing at all.  Planned increases to the personal allowance and the National Living Wage may provide some respite, but the lack of action on the four year freeze on working age benefits and the two-child limit for child tax credits means there is still financial pain ahead for many families.

“As the Government acknowledges the need to examine the retail energy market to ensure that it is working for consumers, it must show the same willingness to examine other markets where consumer detriment is common, including overdrafts and credit cards.

“There are 2.6m people struggling with severe problem debt in the UK, and in order to help the ‘just about managing’ we need measures to improve financial resilience in the form of low-income savings policies building on the “Help to Save” plan, better protections for people in debt in the form of a statutory ‘breathing space’ scheme, and more affordable and sustainable credit options for low-income households.”

StepChange Debt Charity news contact

Contact the StepChange news team on:

Tel: 0207 391 4598

Mobile: 07985 404 153

Email: press@stepchange.org

Follow our press team on Twitter: @StepChange

Helping you become debt free...

“I wish to thank your staff for all the great help they gave me when I was in so much debt.
They were a pillar of support to me.” (Leslie, Essex)

Foundation for Credit Counselling Wade House, Merrion Centre, Leeds, LS2 8NG trading as StepChange Debt Charity and StepChange Debt Charity Scotland. A registered charity no.1016630 and SC046263. It is a limited company registered in England and Wales (company no:2757055). Authorised and regulated by the Financial Conduct Authority.

*This is the average rating of our service based on the StepChange reviews on Feefo by DMP and DRO clients three months into their solution.

© StepChange Debt Charity 2016