More cut-backs and expenditure

It has been reported by the BBC that millions of households could face council tax rises because most councils in England will pass a 10% benefit funding cut.

The Resolution Foundation think tank says there could be as much as a £150 rise but some could see an increase as much as £600. Councils are set to report on their plans for changing council tax benefit.

The responsibility of the scheme has been dealt with the government. With the new proposals, the councils will see themselves take over.  It has been suggested that councils feel they will be left with a financial black hole, as the cost of pursuing those who do not pay through the courts could be higher than the revenue they will raise in tax.

Peter Flemning (Local Government Association) stated on BBC Radio 5 that the government had not given councils enough control over the scope of cuts they could pass on. He also stated that there will be people who cannot pay their taxes making it difficult for the authorities to take them to court for very small amounts of money.

It is not unusual to see massive modifications to how the government plans on supporting the economy in the current economic climate. Making the benefits scheme more applicable to local authorities might have its pros but at the same time a majority of people will still be suffering financial hardship.

Many consumers are turning to different means of seek finance. One of these methods has been Logbook loans.

Logbook loans are easily attainable even if an individual has difficulty obtaining finance in the traditional lending sector. It is a loan secured against a vehicle you own and that it is free of finance. One benefit is that the individual can still maintain the use of the vehicle despite borrowing money against it.

Payday loans are another alternative. However logbook loans are 93% cheaper meaning consumers can manage a suitable finance method.

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