Demsa

General update DEMSA will submit its MaPS call for evidence submission on deficit budgets on Monday after being granted a short extension. This will reflect the latest update from Citizens Advice. Citizens Advice is running a cost-of-living briefing on 15 December 2022. Link: https://www.eventbrite.co.uk/e/citizens-advice-december-cost-of-living-briefing-tickets-463556077707?aff=erelexpmlt Bank of England Money & Credit With regard to the comments above on house prices, the Bank of England reported that net borrowing of mortgage debt by individuals decreased from £5.9 billion to £4.0 billion in… Read more

General update Last call for responses to the MaPS deficit budget consultation. This is an important consultation where those with good trending MI need to respond. The purpose of this MaPS call for evidence is to understand what help can, or could, be offered where a client presents with a deficit budget, as well as what MaPS can do to enable this help to be given. This is obviously a really important topic impacting the whole debt advice sector and more… Read more

In today’s bulletin General update Mixed Messages event at FCA – 15/11 Insolvency Stats Events General update The Autumn Statement dominated economic and political events this week, where many of the pre-event interviews and releases meant that there weren’t many surprises on personal tax and budget cuts for government agencies. The NHS came out better than I thought. Local councils seem to be taking advantage of the 5% allowable rise for council taxes. How tailored forbearance will actually be delivered… Read more

In today’s bulletin General update Financial promotions in focus Training Events General update Talk Money Week We have come to the end of Talk Money Week and MaPS has been featured strongly during the week along with a number of posts on LinkedIn and other media. On 10 November, MaPS issued a press release with the headline “Rising cost of living sees over 11m people seek money help in the last 3 months”. I sometimes have a problem with statistics… Read more

General update The interest rate rise by 0.75% to 3% was not unexpected, but will result in many mortgage holders being worried about what this means to them in 2023 and beyond. StepChange has commented on this and Karl Handscomb, Senior Economist from the Resolution Foundation, painted a fairly gloomy picture for the next couple of years at the MALG Conference as part of an interesting keynote alongside the FCA. At present, around 15% of mortgage holders that seek help… Read more

In today’s bulletin General update FCA speech Training Individual Insolvency Statistics: July to September 2022 DROs – guidance for debt advisers Events General update New PM, Rishi Sunak, has delayed the government’s planned fiscal statement until 17 November as he seeks more time to make the “right decisions” on managing the British economy. Stability is key for both the markets and UK citizens, where consumer confidence remains low. StepChange has set out their top 3 asks of the new PM.… Read more