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Economic and Regulatory Updates

Autumn Statement Overview: Chancellor Jeremy Hunt's financial statement projects a decrease in inflation and a slowdown in economic growth. This is crucial for financial planning and risk assessment in credit management. Autumn StatementInflation and Benefits Changes: The expected increase in benefits like Universal Credit and changes in National Living Wage directly impact consumer spending power, which is vital for assessing credit risk and customer affordability. Universal CreditNational Insurance Adjustment: The reduction from 12% to 10% starting January 2024 affects employee take-home pay, influencing disposable income and thus repayment capabilities in debt collection. National Insurance

Financial Services and Consumer Debt

FCA Fee Consultation for 2024/25: The FCA’s proposed changes to regulatory fees and levies will impact the operational costs for financial service providers, affecting bu...

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