- Friday, 24 April 2009Consumer group Citizens Advice has welcomed recent moves to help Britons who are struggling to manage debts during the ongoing economic downturn.
The group was commenting on this week's Budget - unveiled by the Chancellor of the Exchequer Alistair Darling - and stated that continued demand for support for those most affected by the recession may have posed a "challenge".
According to statistics from debt charity Credit Action, currently one person is declared bankrupt or enters into an
individual voluntary arrangement(IVA) because of debt every 4.5 minutes in the UK.
Since extending its opening hours in February and receiving £10 million of funding from the government, Citizens Advice Bureaux across England and Wales claim to have have helped over 20,000 additional people with their debt queries.
While the group notes that it would like to see the Chancellor go further to help those struggling through the credit crunch, it welcomed the changes for pensioners, tax credits and the social fund.
The Budget may be particularly welcome news for some Britons, after previous research by Credit Action revealed that Citizen Advice Bureaus have been dealing with an average of 7,241 new debt problems every day.
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