On 18th July
2014 the final report was launched from a year long research project conducted
by the London School of Economics for the London Borough of Newham into the
impact of debt and the experience of life on a low income.
cost of living, stagnant wages and welfare reform have placed many households
under increased financial strain. This report, commissioned by the London
Borough of Newham and written independently by Professor Anne Power, offers a
powerful insight into the lives of some of the hardest pressed people in our
country. This research highlights the struggle of both working and non-working
households and explores the relationship between financial planning and
skills and attitudes to credit and debt. The report also provides a valuable
insight into the real impact of welfare reforms and helps to inform Newham’s
ongoing work to strengthen resilience.
panel discussion was held with Polly Toynbee (Guardian), Vidhya Alakeson
(Resolution Foundation), Professor Anne Power (LSE) and Sir Robin Wales (Mayor
of Newham). The discussion considered the drivers and solutions to increasing
levels of personal debt and what can be done locally, nationally and within the
community to build economic resilience. The London Borough of Newham also
outlined its plans to respond to the analysis in the report.
The full report is
available here (pdf). An
recording of the launch event is also available.
Watch an interview with a Newham resident who took part in
News Posted: 18 July 2014
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