Finance Minister announces extra £1.4 million funding to boost household income and manage problem debt in Wales
Services that support people in Wales to manage problem debt and improve their household income are set to receive a £1.4 million boost to help them respond to an increase in demand on their services.
Evidence shows the coronavirus crisis is placing acute financial pressure on people in Wales, with many experiencing a loss of household income, putting them at increased risk of falling into serious debt.
This new funding will bolster the debt advice services that are delivered through the Single Advice Fund, ensuring that those most vulnerable, such as private sector tenants, can access the advice and support they need to manage their financial situation.
Yesterday’s announcement will also fund a range of initiatives that help people, particularly those most vulnerable, to claim the financial support available to them from the Welsh and UK welfare benefit systems.
Finance Minister, Rebecca Evans yesterday said:
Whilst the coronavirus outbreak is affecting everyone, we know that it is having a more significant financial impact on some of the most vulnerable people in our society.
The funding I am announcing today will help those who are most at risk of debt because of loss of household income to better cope with their financial commitments.
It is clear that the impact the pandemic has had on our economy will be felt for the long-term, and we will continue to seek to maximise services available as we recover from this crisis.
Deputy Minister and Chief Whip, Jane Hutt yesterday said:
We know that people living with debt are more likely to experience mental health problems, so it’s vitally important they get the advice and help they need as early as possible.
The debt advice services delivered through the Single Advice Fund are well known, accessible, and can offer early access to advice and support to the more vulnerable households across Wales.
Minister for Housing and Local Government, Julie James yesterday said:
The financial impact of the crisis is clear – many tenants in Wales are already falling behind or expected to fall behind with their rent payments.
Advice services are invaluable in helping people build financial capability whilst supporting them to navigate through the benefit system to better understand what they may be entitled to and how to claim.
This is part of a package of support we are looking at in Wales to make sure we provide more support, more quickly, to the people who need it the most.
Latest News from
One in ten workers in Wales don't have a good understanding of their workplace rights25/01/2021 09:05:00
One in ten workers surveyed in Wales don’t have a good understanding of their workplace rights, reveals recent research conducted by YouGov.
Further £3 million boost for everyday economy projects22/01/2021 14:05:00
Welsh Government is providing a further £3 million for projects which support, improve and deliver the everyday goods and services we all use and need.
Carers Support Fund increased by a quarter of a million pounds22/01/2021 09:05:00
A further £250k has been announced to help unpaid carers in Wales cope with the financial pressures of the coronavirus pandemic.
Changes to qualifications confirmed by Education Minister Kirsty Williams following further disruption to learning21/01/2021 14:05:00
Learners in Wales studying for Qualifications Wales approved GCSE, AS and A levels this year will receive grades determined by their school or college, based on work they have completed over their course.
Ministers seek Senedd consent for emergency bill to manage Senedd election during Covid pandemic21/01/2021 11:05:00
The Welsh Government is to seek the Senedd’s consent for an emergency bill to be introduced to ensure the next Senedd election happens safely, enabling the electorate to participate and vote during the ongoing coronavirus pandemic.
More than £1.7 billion reaches businesses in Wales21/01/2021 09:05:00
Businesses in Wales have received in excess of £1.7 billion from Welsh Government since the beginning of the coronavirus pandemic.
Recovery app launched in Wales to help support people with long COVID20/01/2021 14:38:00
A COVID recovery app has been launched today (20 January) as part of wider support on offer for people experiencing the longer term effects of coronavirus.
Thank you to all our wonderful volunteers in Wales – please stay safe in Alert level 420/01/2021 11:05:00
The Deputy Minister and Chief Whip, Jane Hutt, yesterday gave thanks to the brilliant, kind people from all backgrounds throughout Wales who are volunteering to help communities face lockdown together.
Commission recommendations endorsed by Welsh Government20/01/2021 09:05:00
The path to tackling congestion in south east Wales has been confirmed as Welsh Government has endorsed the recommendations of the South East Wales Transport Commission.