News

The impact of the pandemic on people’s finances this year has left almost half of all Scots running out of money before they reach their next pay packet.

A long-term personal debt crisis is an inevitable consequence of the Covid-19 pandemic unless urgent action is taken to support people in financial trouble.

Food banks across the UK are expecting to see a significant rise in demand this winter as compared with the same period of last year.

Almost one in three Scots are worried about how they will keep pace with their debt repayments as the coronavirus pandemic continues, according to recent research.

People struggling with their personal debts due to the latest coronavirus lockdown restrictions should soon be able to defer their repayments to creditors to ease some of the financial burdens they’re feeling.

Covid-19 restrictions soon to be introduced to Scotland could have a severely negative impact on local economies in some parts of the country.

Martin Lewis, the personal finance expert and consumer champion, has urged people struggling with debt to consider applying for a payment holiday while they still have the chance.

As many as 12 million adults across the UK were struggling with debt and battling to keep pace with demands on their finances in July this year, according to the Financial Conduct Authority (FCA).

The Scottish government has said it will be providing local authorities across the country with an extra £30 million to help them tackle financial insecurity in their areas.

MPs at Westminster have argued that people applying for Universal Credit (UC) should not be forced to wait five weeks before receiving their first payments.

The closing of the UK government’s furlough scheme in the coming weeks is likely to prompt a notable rise in job losses in Scotland, according to first minister Nicola Sturgeon.

Extra restrictions on activities within hospitality settings look set to represent another major blow to the prospects of businesses in many parts of Scotland.