Thursday, 19 March 2020

Five actions that the government must take today to help household budgets

The government need to take action today to help people in dire financial distress. These times are unprecedented, so urgent action is needed. The public bailed out the banks in 2008, so it is now time for the banks to rescue the nation. There are five measures that the government should legislate on today.

1. Grant all personal bank customers an interest free overdraft of £1,000 for every month of the crisis.

2. Suspend all minimum payments and interest on credit cards for personal customers for the duration of the crisis.

3. Give rent guarantees to Landlords for private renters in distress

4. Suspend all domestic community charge payments for the duration of the crisis

5. Cancel all self assessment tax payments for everyone earning under £100,000 per annum

This will give certainty and comfort to everyone who is struggling. It is the absolute minimum we need to get through. We don't want the population to be saddled with debt, homeless or destitue.

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