Welfare Bill Wont Work Article

[Wintry]

Hi

 

Interesting but at the same time a worrying newspaper article from the Guardian

 

http://www.guardian.co.uk/politics/2012/sep/15/welfare-bill-iain-duncan-smith?mobile-redirect=false

 

Looks like overlapping benefit, debt and housing enquiries / issues are set to rocket over the coming months and years even.

 

Due to the rising cost of living and travel expenses, wage freeezes, cuts and the rest disposable income is already on a China syndrome type course affecting those already in debt management arrangements, IVAs & bankruptcy orders with more now certain to follow.

 

Universal credit on its way, what a disaster that also might turn out to be.

 

Credit Unions maybe hoping to fill the vacuum or soften the blow in some way, the signs dont look good for them though from what I see & hear, unfortunately it looks like they (the credit unions) may well have aleady been overtaken by events.

 

Can the fee chargers and other agencies with a financial interest in debt management arrangements hang on to what they have got or will they do the right thing, think we know the answer to that one, either way though, people are really starting to struggle, so something has to happen and they know it, get ready, it should not be too long now.

 

Hard times ahead with people needing all the help thay can get to weather what looks set to be a very lengthy and prolonged financial storm.

Edited September 16, 2012 by Wintry

[Wintry]

Hi

 

Credit Unions ideally placed to meet this need?

 

http://www.abcul.org/media-and-research/news/view/274

 

Jam Jar accounts?

 

I dont think it will be quite as simple as that and could actually backfire if they are not careful.

 

Millions already well into debt problems, payday loan availibility & marketing along with the doorstep lenders, so the bottom lines just wont add up especially taking into account universal credit monthly payments etc.

 

Trouble ahead and no easy answers in my opinion

 

Comments anybody?

Edited September 20, 2012 by Wintry

[Wintry]

Hi

 

Millions to receive letters re: child benefit cuts

 

http://www.bbc.co.uk/news/uk-20119514

[sequenci]

I agree that child benefit should be stopped for high earners. Not sure I like how it's been carried out, though. It should have been means-tested. Although I guess that involves a LOT more time and effort.

[Surfer01]

This whole exercise is being done to root out the spongers and those making fake disability claims. I agree with this, however how much is it costing to implement and what are the savings going to be every year? How much does the spongers and those making fake disability claims actually cost the government annually?

I guess no one knows the true figures otherwise those people would have been found out a long time ago so at the moment everything is a guess.

[DuffNCustard]

We've been living beyond our means for decades, and to date not much cutting has actually been implemented - plenty of talk but no action. Sadly even when these cuts are actually implemented we will still be borrowing. The UK is on its @rse bones and there is even more liability and debt 'off the books', we'll be grinding through this for at least 15 years. The 'benefits' bill is one of the largest after the NHS if you can't spend what you ain't got and you can't borrow anymore something has to give. Arguing about who should pay more tax won't fill the coffers - even if all tax evaded was collected we'd still be a busted flush. The State does not create wealth but we have allowed it to spend like a drunken sailor, although the deficit, ie the amount we have to borrow to pay our bills, may be shrinking the national debt is increasing.. God help us all when interest rates rise again

[Wintry]

We've been living beyond our means for decades, and to date not much cutting has actually been implemented - plenty of talk but no action. Sadly even when these cuts are actually implemented we will still be borrowing. The UK is on its @rse bones and there is even more liability and debt 'off the books', we'll be grinding through this for at least 15 years. The 'benefits' bill is one of the largest after the NHS if you can't spend what you ain't got and you can't borrow anymore something has to give. Arguing about who should pay more tax won't fill the coffers - even if all tax evaded was collected we'd still be a busted flush. The State does not create wealth but we have allowed it to spend like a drunken sailor, although the deficit, ie the amount we have to borrow to pay our bills, may be shrinking the national debt is increasing.. God help us all when interest rates rise again

 

Hi

 

Some thought provoking stuff here, the only trouble being, is that you could turn out to be more right than some of us would dare to admit.

[Surfer01]

Hi

 

Some thought provoking stuff here, the only trouble being, is that you could turn out to be more right than some of us would dare to admit.

 

They are right and that is the problem. You have to have an income to pay your commitments and debts satisfactory as the money has to come from somewhere and taxes alone is not sufficient. Money needs to come from exports and tourism! Wouldn't surprise me if the government joined CAG! LOL!

[Wintry]

They are right and that is the problem. You have to have an income to pay your commitments and debts satisfactory as the money has to come from somewhere and taxes alone is not sufficient. Money needs to come from exports and tourism! Wouldn't surprise me if the government joined CAG! LOL!

 

Hi

 

Yes, difficult times ahead, no getting out of that.

 

A couple more articles today from the BBC

 

http://www.bbc.co.uk/news/business-20146596

 

http://www.bbc.co.uk/news/uk-politics-20162617

 

Many more to come on all this, accepting a standard of living dip will be the theme as the powers that be attempt to cushion the blows.

 

Maybe they should check out forums like this, could only help really as far as opinion and mood are concerned at the very least (maybe they already do)

 

Perhaps some of the powers that be would need to remove their blinkers first though

 

With all thats going on, havoc ahead also predicted for the 'debt scene'

 

The Payday loan cavalry will likely present themselves available to help, so everything should turn out just fine.

Edited November 1, 2012 by Wintry

[Wintry]

Hi

 

Another BBC article giving a slightly different slant on all this - 'fiscal nimbyism' is the headline - I must say it is the first time I have heard that, but these are unique and somewhat 'quirky' unchartered sort of times

 

We can probably expect a few more new cliches, phrases, sayings & scapegoats even born out of all this before the voyage is over (the ship hasnt really left the port yet, thats the trouble)

 

http://www.bbc.co.uk/news/uk-politics-20178274

[Wintry]

Hi

 

Which? say millions are struggling financially according to BBC article.

 

http://www.bbc.co.uk/news/uk-20572144

 

Autumn statement to come on Wednesday, incomes possibly set to come under more pressure as tax rises for the wealthy and and cuts in welfare are widely predicted again according to the BBC article

[Wintry]

Hi

 

Latest news from the BBC on DLA claimants (change timetable extended)

 

http://www.bbc.co.uk/news/business-20709623

[Wintry]

Hi

 

Citizens Advice's very well respected Gillian Guy makes a powerful address on the overall situation

 

http://www.citizensadvice.org.uk/index/pressoffice/press_index/press_20130215.htm

[Wintry]

Hi

 

Well, its has now basically all started with the bedroom tax & council tax changes away and making the running, more changes will follow in the coming months and years.

 

Some of these changes will have a significant effect on incomes & finances taking some people and families below the water mark or down closer to it and maybe for the first time.

 

There will be people in debt payment arrangements who will see their disposable incomes take a dive making it difficult or perhaps impossible even to maitain payments at current levels.

 

There will be some people who will no doubt end up in debt for the first time and with priority ones such as rent and council tax with the additional costs and charges that can go with them.

 

Possession & homelessmess issues could also rocket

 

The Payday loan companies will perhaps be rubbing their hands and maybe some of them holding team meetings on marketing their 'products' towards this new found market to go along with what they already hold.

 

The subject of welfare reform is likely to be headline news for some considerable time now as make no mistake and what ever point of view you hold these issues will have an effect over a cross section of the population either directly or indirectly.

 

These changes are unprecedented the like never seen before, bigger than many actually realise and will have an impact.

 

More advice, help and support will be needed, preferably of the genuine, independent, impartial, FREE variety.

 

Interesting and perhaps worrying times ahead me thinks

 

The Chancellors view below along with Aprils 'itinerary' of changes

 

http://www.bbc.co.uk/news/uk-politics-21998784

 

Just my opinions as always

[Wintry]

Hi

 

Finances set to get tighter for both those in and out of work!

 

Tricky economic times continue to bite.

 

http://www.bbc.co.uk/news/uk-politics-23053693

[Wintry]

Hi again

 

This is what the Citizens Advice's Gillian Guy has to say -

 

http://www.insolvencynews.com/article/15478/corporate/spending-review-2013-warning-issued-on-welfare-cap

 

Tells it like it is, does aaah Gillian!

[Surfer01]

Why is foreign aid being ring fenced? Surely if we removed ourselves from various areas of conflict and stop acting like policemen we would save a fortune?

[DuffNCustard]

We're now at the beginning of the next phase - IMHO this is when it really starts to hit the fan. Gold price is falling like a stone - this 'ain't natural' central banks are quietly stocking up on gold to back up the rotten crap they know is on the books of the banks. There is skullduggery afoot here, central banks surely wouldn't manipulate the price of gold - would they? Sure they would, the bond bubble will bust - we're already seeing returns rising - meaning Governmanets have to pay more to investors. Now Governments don't actually have any money of their own, they have tax revenue and it ain't enough to pay all the bills. Government debt is rising, money is flowing out of the EU like water through a sieve - well wouyld you leave money in banks where if they go bust (French and German banks are really horribly exposed with ten tons of crap on their books) the bail in terms now agreed by Brussels-am Berlin will mean bondholders and depositors are going to take a close haircut - look at Cyprus and the poor bloody Greeks.

 

When this pile heading our way hits us we'll not be worrying about foreign aid, we'll be paying the ferryman. Keep your money close to you, buryin it in the garden if you have to or stash it in a safe under the floor boards. Pay cash for everything and if you do owe money keep creditors at arms length - bung them a quid a month if you have assets, if no assets got DRO, or BR then take care of you and yours.

[Wintry]

Hi

 

An interesting aspect to all this on spare rooms and the so called 'bedroom tax'

 

Reclassifying properties and that type of thing!

 

http://www.insidehousing.co.uk/tenancies/cih-backs-freud-over-bedroom-tax-threat/6527555.article

 

The Welfare changes along with the other stuff is hitting incomes, spending & payment arrangements hard, people and families struggling with the essentials

 

I can see a marked increase in Debt Relief Orders & perhaps bankruptcies replacing bottom end low payment Debt Management Plans & IVAs even.

 

For some, there has to be payment reviews to help at the very least, hasn't there?

 

Of course there has, ain't that what genuine independent, impartial advice is all about, best interests of the client.

 

Its getting tricky as the pressure continues to mount in more ways than one

 

My opinions based on direct experience

Edited July 1, 2013 by Wintry

[Wintry]

Hi

 

Pressure mounting on the bedroom tax

 

It always was going to be one of the most controversial aspects of the welfare reform

 

Anything that affects the security of the roof over the head of people and families had to be.

 

The knock on effect could be very costly indeed as debt spirals (see paragraph below from the article)

 

"The federation's report also found 6,000 of the 14,000 householders who had fallen into arrears had done so for the first time"

 

 

We warned them....... but guess what,! ahh, you all know the rest, it is a familiar tune, just keep your eye on the payday loan debacle for the next big hit song!

 

http://www.bbc.co.uk/news/uk-england-merseyside-23183352

 

My opinions

[Wintry]

Hi

 

Given that I have mentioned Credit Unions in this thread and concerns about them I thought this news article would be interesting.

 

http://www.insolvencynews.com/article/15624/industry/credit-union-liquidated-amid-investigations

 

It could get tough for some of the Credit Unions as the impact of the Welfare Reforms start to really bite and people in general see their disposable incomes wane.

 

The Payday Loans companies have cast their line way in front of the Credit Unions in my opinion which will have its effect.

 

As it stands I am not sure the answers are out there other than breadline budgeting which basically cant & wont work!

 

Very tricky times now and ahead I am sad to say

 

My opinions