Debt management weekly round-up

The emergency budget has been the biggest talking point this week and unsurprisingly has resulted in a lot of issues that will affect people in debt.

The headline from the budget is that VAT will go up to 20 per cent from January. This will cost Britons £13bn over the course of this parliament, heaping further debt misery onto many.

As well as being stung by higher prices for everyday goods, the tax increase could lead to a rise in unemployment figures, as research from uSwitch.com reveals that many small businesses will need to cut costs.

This comes after the Office of National Statistics announced that an extra 23,000 were added to the numbers out of work

Public sector workers will have their salaries frozen and benefit claimants will see their hand-outs linked to a lower rate of inflation, meaning debt management may be needed for many.

Those debt solutions are more likely to be from professional sources now that the government department that hands out debt advice has had its budget slashed by £1bn.

Debt problems - raising children

28/02/2011

More people in the UK appear to be suffering from the debt problems brought about all because of the ...

Save to counter debt problems

13/01/2011

Consumers living in the UK who are currently trying to navigate the tough financial climate right no ...

Debt problems should be hit early

10/01/2011

Consumers struggling with debt problems should start the year as they mean to go on by tackling thei ...

Scots' debt problems – loan sharks

06/01/2011

The Scottish government is warning people who face debt problems north of the border not to be tempt ...