In the wake of the Spring Budget 2024, COVER spoke to industry experts about how the Chancellor’s plans will impact the industry.
The positive notes were regarding financial resilience, the budget increased the repayment period for a loan for household emergencies from 12 to 24 months. It also ended the £90 charge for debt relief orders. Dr Matthew Connell, director of policy and public affairs, Chartered Insurance Institute (CII) Group, said: "We welcome the Chancellor's decision to bolster resilience. Last September, we published a report on resilience that recommended an independent Commission on Household Financial Security, to create a comprehensive plan for resilience in an economy where only 54% of those age...
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