CfRC Home | fresh thinking for credit regulation 2017-09-13T05:09:28+00:00

Current Research Programmes

2017-01-06T15:08:41+00:00

Building Financially Healthy Lives and Communities

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 [...]

2016-12-15T13:35:35+00:00

Getting Britain Out of Debt

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 [...]

2016-12-15T13:35:35+00:00

Improving Credit Regulation

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, [...]

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The decline of local welfare schemes in England

September 13th, 2017|0 Comments

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

August 31st, 2017|0 Comments

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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Improving Financial Health: new approaches and innovations

30th October 2017

Hallam Conference Centre, London

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.

An increasing number of British households are in extremely poor financial health: either highly indebted, lacking adequate savings, or both. The combination of a continued squeeze on real wages; Government’s programme of welfare cuts and more precarious employment is driving many to take out credit – often at very high cost. Others are turning to food banks and charities for help to make ends meet or to fund the purchase of basic household items.
Whilst credit unions and other non-profit lenders offer affordable credit to some people on low incomes, these have struggled to get to scale. In any event, they are not a suitable option for people who are already experiencing debt problems or are on very low incomes.
New models of delivery are needed. So too, are affordable financial products and services that have the flexible features that low to middle income households value. This conference will generate the ideas and energy needed to radically improve financial health outcomes and will showcase the very best new approaches in service and product design.

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.

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Latest posts

The decline of local welfare schemes in England

September 13th, 2017|0 Comments

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

June 6th, 2017|0 Comments

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

March 22nd, 2017|1 Comment

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.

GET THE BOOK

“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