StepChange Debt Charity reacts to King’s Speech
17 July 2024
StepChange Debt Charity has reacted to the new Government’s Bills and priorities announced today as part of the King’s Speech. The charity is pleased to see new legislation to improve rights for people renting privately, alongside commitments to improving living standards, job security and wages across the UK.
Richard Lane, Chief Client Officer at StepChange, said:
“It’s encouraging to see the Renters’ Rights Bill introduced in today’s King’s Speech and that improving protections for private renters will be a priority for the new Government. With the ONS confirming today that private rental prices continue to rise at levels well above inflation, it’s vital that this issue is swiftly addressed. We hope that this Bill will account for renters experiencing financial hardship – especially with so many renters on low incomes now living in the private rented sector (PRS). People renting privately make up the majority of people seeking help with debt from StepChange.
“We also welcome a commitment to improving living standards and employment rights, ensuring that work pays and provides security. It’s positive to see a pledge to deliver a genuine living wage that will account for the cost of living. Our research shows one in ten UK adults - 2.8m people - in full time employment are in problem debt, which is half the total number of those in problem debt overall (5.6m).
“Supporting households struggling to cover basics, like their energy bills, must be a priority for this Government. People need a fair chance to build financial resilience following the last few years, and we must avoid further hardship for those on the lowest incomes who are finding themselves in debt after covering essential costs.”
Notes to Editors
- Research referenced is from StepChange’s report In Work. But Still in Debt which can be found here.