Household Support Fund and Gambling with Credit

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 5 October 2024

⏱️ 25 minutes

🔗️ Recording | iTunes | RSS

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Summary

Hundreds of millions of pounds has been made available from the government for local authorities across the UK to spend on those most in need of financial help. Known as the Household Support Fund it's made up of £421 million for councils in England with another £79 million for devolved nations. Dan Whitworth meets Sam, who's 28 and got help from the fund via Stockport Disability.

A new report analysing the finances of people on low incomes who apply for loans has found a third were declined because of 'excessive gambling'. Salad Money is a social enterprise, providing credit to people earning between £25k and £35k per year. It says that out of 170,000 people who applied for loans in the first three months of this year, a third were turned down. We'll hear from the CEO of Salad Money, Tim Rooney.

The consultation which could mean fraud victims who lose more than £85k won’t get their money back when new refund rules come into force in October.

And what tax changes could the government make in its first budget? We’ll discuss Capital Gains Tax and how it might be impacted.

Presenter: Felicity Hannah Reporter: Dan Whitworth Researchers: Catherine Lund and Jo Krasner Editor: Jess Quayle

(First broadcast 12pm Saturday 7th September 2024)

Transcript

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0:00.0	You are about to listen to a BBC podcast and I'd like to tell you a bit about what goes into making one.
0:06.5	I'm Sadata Sese, an assistant commissioner of podcasts for BBC Sounds.
0:11.2	I pull a lot of levers to support a diverse range of podcasts on all sorts of subjects,
0:16.0	relationships, identity, comedy, even one that mixes poetry, music and inner city life.
0:22.4	So one day I'll be helping host develop their ideas, the next fact-checking, a feature,
0:28.3	and the next looking at how a podcast connects with its audience, and maybe that's you.
0:33.6	So if you like this podcast, check out some others on BBC Sounds.
0:39.5	BBC Sounds, music, radio podcasts.
0:43.4	Hello, today on the Moneybox podcast, extra cash for households in crisis.
0:48.4	Where would you be right now if it wasn't for that money?
0:50.3	I'd be dead. 100%.
0:51.7	Yeah.
0:53.3	Because I had no one, I had nothing and I was out of hope and this
0:57.5	place gave me hope. We'll hear more from Sam and our own Dan Whitworth in just a moment. Plus,
1:02.8	the people who gamble to excess and then try to borrow more money and why the Chancellor might
1:08.0	have capital gains tax in her sites as she seeks savings in her
1:11.8	October budget. But first, the household support fund has been extended for another half a year,
1:17.8	meaning local authorities in England and the devolved governments have access to £500 million
1:22.7	pounds more in emergency support for vulnerable households. The announcement followed the removal of the
1:28.4	winter fuel payment for millions of pensioners. But while the extension has been welcomed by
1:33.3	councils and charities, they say more must be done to prevent people falling into crisis in the
1:38.6	first place. Moneybox reporter Dan Whitworth has been to visit Disability Stockport, which works with the local council to distribute money from the fund.
	...

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