Cuts could lead to need for debt advice

Unemployment figures could be on the rise following the budget cuts by the new government, which could lead to thousands seeking debt solutions.

Early estimates indicate that at least 50,000 jobs will go as the coalition aims to make over £6bn-worth of cuts this year alone.

Kevin Still of Atlantic Financial Management comments: "The new coalition is not wasting time in making its intentions known and this could have a serious impact on many public sector workers."

University budgets look set to be cut by £200m, earlier education by £300m and local council grants by £1.2bn.

Kevin Still is worried for those who will face the brunt of these cuts: "Very few people have adequate financial reserves to cope with losing their job and loss of income remains the number one reason why people start a Debt Management Plan (DMP) with Atlantic Financial Management."

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