Strategy launched to tackle indebtedness

Launched this morning by DTI consumer minister Gerry Sutcliff and the DWP’s Chris Pond, the government has proposed changes to court and insolvency proceedings as well we access to affordable credit for lower earners, responsible lending and a new strategy to boost financial literacy. Details of the 87-page action plan suggest families with earnings of between £15,000 and £35,000 tend to have the highest amount of ‘indebtedness’ so more work will be done to encourage a savings rather than debt culture. In particular, the government will continue with reform consumer credit laws and m...