PM Cameron Speech Raises Concerns for Some

At speech during the World Economics Forum which took place recently in Switzerland, UK Prime Minister David Cameron brought up British debt management in a move that caused some in his home country to raise their eyebrows. The reason for noticing this particular topic in the PM’s speech is due to the fact that the Government has indicated it has plans to do away with the Financial Inclusion Fund. According to Cameron, the UK needs to focus on savings and investments as opposed to consumption and debt, at the economic level.

Some watch dogs for consumers believe that this could be indicative of a coalition government attempt to, at least in gesture, bring up the tremendous debt burdens being faced by huge numbers of British citizens today. With insolvency on the rise towards record breaking levels and more than £1.5 trillion in personal debt in the UK today, many believe this would be a timely and relevant topic for the PM to address.

At the same time, any real hope of Cameron advocating assistance to UK citizens facing struggles with debt was nullified by the report released from the Legal Action Group a short time later. In that report, it was made known that the Financial Inclusion Fund is set to end this March since legal and and local government grants are taking sharp cuts. This means that the approximately 500 advisors whom the Financial Inclusion Fund previously employed to help nearly a hundred thousand Britons with their debt problems as part of the Citizen’s Advice Bureau and similar centres in the not for profit sphere will now be unavailable to counsel. Instead widespread redundancy will affect the majority of these advisors.

Some experts who work for charities have expressed dismay at the situation, pointing out that there is an increased demand today for debt advice due to rising unemployment and such a difficult economy. With the advisors lost, it will be far more difficult for those in the UK who are struggling with debt to know where to turn.

If you face debt struggles yourself, you should investigate the options to the right of this article. This site has been created as a neutral voice for fairness in debt issues and a resource for those who struggle with debt. The organizations featured here are presented for your convenience so you can take control over your situation by arming yourself with sound debt advice from trusted sources to find solutions that work for your life.