One of the BBC headlines is entitled ‘Free childcare: Is Jeremy Hunt's Budget promise feasible?’. The budget has come and gone with no major surprises and many consumers relieved that energy relief is still available for another 3 months. This is particularly relevant to low-income households and those most at risk of having to borrow to pay essential bills. He has also committed £200m to bring energy charges for prepayment meters into line with prices for customers paying by direct debit, impacting 4m households.
Nick Hill, Senior Advice Manager at MaPS, responded:
“Receiving help with their childcare costs up front is a double dividend for many parents. Not only can they stop having to find the whole amount in advance, which left some in a cycle of debt, but they can also plan their finances much more easily. The significant increases in how much they’re entitled to will also make a massive difference to household budgets at a time when some will need it the ...
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