The factors that have kept many low-income families out of poverty in the past year are changing, meaning many thousands will be worse off.
Families are set to be hit by big income shocks with the ending of furlough, the reintroduction of the Minimum Income Floor, the loss of the £20 a week Universal Credit increase and the ending of the Benefit Cap’s grace period. New data analysis from Policy in Practice predicts significant losses for some families who will struggle to cope and who will need the support of frontline organisations to help them through.
In this webinar we will explore what the Autumn may bring for low-income households and how support organisations can work now to prevent hardship and prepare for an increased demand for services.
Listen back to hear about:
- How living standards are changing
- The current debt landscape
- An overview of The Money and Pensions Service
- The UK strategy for financial wellbeing
- Tools that can help
- Looking beyond October 2021
With guest speaker Monica Kaur, Regional Partnership Manager – London East, Money and Pensions Service.
View the webinar
There are pressures facing low-income households with take-home incomes falling and costs expected to rise. Items like energy prices are experiencing above-inflation increases. This is alongside debt pressures and depleted savings, meaning low income households will have less of a buffer to withstand these changes.
The stats used to be that one in five people had sleepless nights due to money worries. That has now increased to one in three due to the current climate. We are trying to remove the stigma around talking about money. We want organisations to really support their customers, residents and employees when it comes to money.