Current Research Programmes
Building Financially Healthy Lives and Communities
Our Projects
We want to ensure that all British households lead financially healthy lives. This requires us to think about how they can be assisted to meet their day to day costs and also build up savings and plan positively for their future. We know that too many households are struggling financially, and that these are often geographically concentrated. Even with very careful money management, the combination of low pay, insecure [...]
Getting Britain Out of Debt
Our Projects
We believe that over-indebtedness is receiving insufficient policy attention. Not only does it have major human and social costs, but the debt burden is negatively impacting on our economic performance. The extent to which debt poses a burden on households is contingent on three factors: (i) the amount of debt that is outstanding; (ii) the cost of that debt, in terms of interest, fees and minimum payment [...]
Improving Credit Regulation
Our Projects
Inadequate regulation of credit markets has created all three of the major economic crises experienced in Britain since 1970. The removal of direct Government controls over lending and the replacement of these with the 'Competition and Control' system of regulation in 1971 lay behind the Heath Government's 'dash to growth'. It relied on credit markets being controlled only through the manipulation of interest rates by the Bank of England, [...]
Latest News
The decline of local welfare schemes in England
Local welfare provision in England is at risk of collapsing if Government does not urgently review its approach and step in with more funding for local authorities. A failure to act will create widespread destitution, and put even greater pressure on already over-stretched housing, health, and social care services. Those are the key messages from our new report - 'The Decline of Local Welfare Schemes [...]
Improving Financial Health: new approaches and innovations
We've teamed up with the Financial Health Exchange at Toynbee Hall to deliver a fantastic new conference in London on 30th October. Too many households in Britain today are struggling with a combination of outstanding debt, low or no savings, and increasing pressure on incomes. Many are also finding it difficult to budget effectively due to insecure or flexible working patterns. Others are faced with [...]
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Follow us on TwitterImproving Financial Health: new approaches and innovations
30th October 2017
Early bird prices from just £78, inc. VAT
A joint conference between the Centre for Responsible Credit and the Financial Health Exchange at Toynbee Hall.
Book your place today here
The Decline of Local Welfare Schemes in England
September 2017
Local welfare provision in England is at risk of collapsing if Government does not urgently review its approach and step in with more funding for local authorities. A failure to act will create widespread destitution, and put even greater pressure on already over-stretched housing, health, and social care services. Those are the key messages from our latest research, which has been funded by the Barrow Cadbury Trust and which involved an assessment of Cabinet and Committee papers detailing current budgets for local welfare schemes and the reasons for cuts. From this exercise we were able to obtain information about current funding levels for schemes in around 70 percent of English local authorities. We also conducted interviews with eighteen people who have directly affected by the closure of schemes in Northamptonshire, Nottinghamshire, and Oxfordshire.
Latest posts
The decline of local welfare schemes in England
Local welfare provision in England is at risk of collapsing if Government does not urgently review its approach and step in with more funding for local authorities. A failure to act will create widespread destitution, [...]
Politics needs to address Britain’s emerging consumer debt crisis
This briefing draws upon the latest data from the UK Economic Accounts released by the Office for National Statistics on 31st March 2017 (covering the period up to December 2016) and from the Bank of [...]
Fair for You makes the case for a massive expansion of affordable credit
A new CfRC report highlights the huge social benefits that could be achieved if Government were to widen the access to affordable, not for profit, alternatives to high cost credit. The report is based on [...]
BRITAIN’S PERSONAL DEBT CRISIS | How we got here and what to do about it.
Damon Gibbons | 1 Jul 2014
In Britain’s Personal Debt Crisis, CfRC Director Damon Gibbons, provides an assessment of how, over a period of 40 years, we have come to be over-reliant on financial services, and credit in particular. Our basic needs – for affordable homes, for education, decent jobs, and dignity in old age – are all now contingent on our ability to access financial services. But the way in which these are provided is highly regressive and is contributing to growing wealth inequality. Credit expansion has also contributed to our economic decline, paved the way for attacks on the welfare state, and fed the growth of a highly individualistic and unsustainable consumer culture.
Whilst charting these developments, the book also outlines a programme for national renewal, including measures to bring credit back under control and restore the financial sector to servants of government economic policy.
“Damon’s book provides a timely insight into the power of personal debt to not just make life a daily struggle of the public but do long term damage to the future our country. He matches detailed analysis with a passionate call for action that many will find compelling”
Stella Creasy MP
”Damon Gibbons has campaigned over many years for fair lending at a reasonable price to low income households. From doorstep lending to payday loans he has challenged established ideas and called for a cap on costs – a policy now endorsed by the Government.”
Paul Lewis, journalist and broadcaster
Damon is one of those rare people who is able to combine a social policy researchers’ attention to detail with a campaigners’ zeal and passion to make change happen. The fact that he has managed to sustain this work for more than a decade, even when it has often meant swimming against the prevailing opinion of the times, is remarkable. Not only that, his analysis of the problems and solutions to Britain’s personal debt crisis is always insightful, and almost always right!”
Niall Cooper, Director, Church Action on Poverty
”This is a timely analysis of the growth in personal debt and a passionate plea for action. Few people understand the working of credit markets better than Damon and his proposals for effective regulation deserve serious attention.”
Paul Blomfield MP