Demsa

In today’s bulletin General update MaPS call for evidence – deficit budgets CCS – Social value in debt recovery Events General update Tory leadership elections are coming to a close and immediate focus will be required on the economy and protection measures for businesses and consumers as we face a real crisis with so many small businesses under threat. Some of these are integral to our lifestyles, especially for those living outside of cities. My village isn’t blessed with that… Read more

The headlines have obviously been the announcement of the energy cap figures for October 2022 by Ofgem. On 26 August 2022, Ofgem has announced the energy price cap will increase to £3,549 per year for dual fuel for an average household from 1 October 2022.  Ofgem’s CEO has warned of the hardship energy prices will cause this winter and has urged the incoming Prime Minister and new cabinet to provide an additional and urgent response to continued surging energy prices.… Read more

The last week has seen a number of releases around the increased usage of consumer credit, including card spending and the volume of transactions. Consumer confidence is very low. There is general political uncertainty and some of the proposals made by rival contenders for the Tory leadership are causing concerns in the city, certainly messaging that regulators may be merged.   Inflation in the UK hit a 40-year high of 10.1% in July 2022, according to the Office for National… Read more

General update As previously reported, the Bank of England has forecast the UK will fall into recession towards the end of 2022 as energy costs continue to rise. The National Institute of Economic and Social Research said it expected the UK economy to continue falling over the next three quarters. Capital Economics said there was now a greater risk that the economy will shrink by 0.2% between July and September before worsening. SDRP update I sent out an SDRP update… Read more

The Bank of England announcements this week that interest rates have risen by 0.5% to 1.75%, inflation will hit more than 13% later this year and we are heading for recession in Q4 has dominated UK news. It is difficult to know whether consumers are able to digest the procession of bad news if they are financial struggling. Certainly, the headlines below don’t make great reading. At its meeting ending on 3 August 2022, the MPC voted by a majority… Read more

General update I will start with a call to action (CTA), which I was reminded of during a networking event during the week. I have been engaged with MaPS this week looking at the future demand for debt advice. Russell Bradshaw (Russell.Bradshaw@maps.org.uk) is a statistician at MaPS and is looking for as much help as he can get on looking at the drivers of future demand, including the ‘accelerators’. Russell is on leave for a week, but will be speaking… Read more