Action on jobs and wages a ‘big, bold move’ to support household finances

The Money Advice Trust, the charity that runs National Debtline and Business Debtline, has welcomed the Chancellor’s announcement of a package of measures to support jobs and wages.

Joanna Elson OBE, chief executive of the Money Advice Trust, the charity that runs National Debtline and Business Debtline, said: “The Chancellor’s new measures to support jobs and wages is the big, bold step that household finances need as we grapple with the Coronavirus crisis. This will get financial support quickly to households by protecting people’s incomes – and prevent more people falling into financial difficulty in the weeks and months ahead.

“At the same time there are millions of people already in problem debt, and they urgently need support too, as Coronavirus continues to cripple the UK economy. A temporary suspension of debt collection and enforcement and widespread payment holidays on bills including rent and Council Tax would make an immediate difference.

“It is a relief to see some action to support self-employed people in the Chancellors’ new package measures, including giving them the same kind of access to Universal Credit as those who are employed. Across the country the incomes of sole traders are falling significantly, however, and even greater action to help the self-employed may become required as this crisis plays out.

“In the meantime debt advice services like National Debtline and Business Debtline are working flat out to help people through this extraordinarily difficult time – and we look forward to working with Government to develop further policy responses in the coming weeks.”