BRITAIN: ‘ Tories Bedroom Tax Show Increase in Rent Arrears Cases ‘

#AceDebtNews – BRITAIN – October Debt and benefit issues remain the highest areas of demand for the Warwick district’s Citizens Advice Bureau branch but the need for unemployment and housing advice is also increasing.

The charity, for which its volunteers provide specialist help and advice for people with a variety of problems, has released its annual report which will be presented for approval at the annual branch meeting next week.

In the last 12 months the branch dealt with 5,865 debt issues, 4,817 welfare issues and, 1,898 unemployment issues.

Aidan Knox, branch manager, said: “One of the key issues for the people of Warwick district is affordability and we are advising more people who are in work yet unable to make ends meet than ever.

“Affordability not only impacts on the need for debt advice but on housing security too. Over the last year we have been advising on average three people per week with some form of housing repossession action taken against them.

“Affordability, or the difficulties people are facing trying to achieve it, is one reason we are increasing the work we are doing in helping people save money and reduce costs. This includes helping people research their options to change energy suppliers, be savvy bargain shoppers and budget more effectively and many other areas of money saving help.”

Paul Hobday, a money advisor for the branch, said the downward pressures on incomes have led to many working families struggling to meet basic household expenses and so arrears for priority bills such as utilities are now more common than ever.

While a rise in mortgage interest rates could also provoke a significant increase in repossession proceedings client problems have also been compounded by the ‘bedroom tax’, which has led to an increase in levels of rent arrears over the last 12 months.

Source:

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‘ European Shares Slump with DAX Taking Biggest Hit by Sliding 2% After Economic Data Report ‘

#AceFinanceNews – October 10 – European shares slumped on Friday – with the German DAX sliding over 2 percent in mid-morning trade – amid concerns over global growth, and another round of disappointing economic data from Germany.

Asian markets set the tone in another roller-coaster day for global equities after U.S. stocks erased all of the previous day’s rally on Thursday.

The S&P 500 fell 2.1 percent Thursday to 1,928 — it has now fallen more than 4 percent from a record closing high struck three weeks ago.

CNBC Data Provider.  

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#economic-data, #german-dax, #germany, #stocks, #us

‘ Ebola Fears Start to Affect Economies With Aversion Behaviour ‘

#AceFinanceNews – October 10 – The fear of Ebola is already starting to affect economies, the president of the World Bank said on Thursday.

In some countries, for example, people are already refusing to clean planes for fear of contracting the virus.

The World Bank has estimated the cost to Africa alone at some $32.6 billion.

“What we’ve seen, the so-called aversion behaviour … the $32.6 billion is not because of the virus itself, 80 to 90 percent of that is the aversion behaviour, the stop in productivity, people don’t go to work, kids don’t go to school, there’s no flights coming in, trade slows down,” Kim said in a CNBC interview.

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