A £190m fund which provides hard-up families with free debt advice, low cost loans and access to bank accounts is likely to be scrapped this year as the government continues its radical public spending cuts. Ministers have failed to offer any reassurances that various financial initiatives to help low-income households, such as The Financial Inclusion Fund, The Growth Fund and Saving Gateway, will be continued beyond the end of March. These schemes have provided thousands of families with easy access to affordable credit and financial help, encouraging people to develop sensible money-handling skills and saving habits. The NHF fears that the axing of these funds will have a widespread impact and could ultimately leave many people across the country at risk of falling into the hands of predatory loan sharks and deepening levels of debt. Read more on the NHF website.
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