Abacus Daily Debt News

Coalition cuts to raise debt help need for the poor?

The poorest households in Britain may need debt help management after it has been revealed the coalition government's emergency budget has hit society's least well-off the hardest.

Research commissioned by the End Child Poverty campaign and carried out by the Institute for Fiscal Studies also showed families with children have been negatively impacted.

It called the measures implemented by the coalition "regressive" as those in the lowest income decile are set to lose more than five per cent of their income.

Fiona Weir, a spokeswoman for the End Child Poverty campaign, observed: "It's not fair that children should have to pay for the cuts and shocking that the poorest families are bearing the brunt of them."

She added the government must review its cuts and carry out changes to housing benefits.

A recent Gocompare.com study showed nearly half of Britons believe themselves to be in a worse financial position than they were 12 months ago.

By James Francis