Measures outlined in yesterday’s Budget announcement aimed at helping low-income families and homeowners struggling with debt management have been welcomed by Citizens Advice.
Director of policy Teresa Perchard said that the extension of the Support for Mortgage Interest Scheme – which helps people cover repayments – will offer extra aid for borrowers.
In addition, she hailed a £270 million cash injection for the Social Fund, which will mean “extra money in people’s pockets for those most in need of loans to cover emergencies or help with buying big household items”, she explained.
Ms Perchard also expressed her approval of the chancellor’s announcement that under-25s who are out of work for 12 months are to be offered jobs or training.
However, she noted that Citizens Advice is concerned that the support will only be available to young people after they have been unemployed for a year.
Meanwhile, the Low Incomes Tax Reform Group claimed that many poorer people will “continue to struggle” following the Budget announcement.
By Jamie Price