Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

PPI refunds: Incomes 'to drop significantly'

PPI refunds could become important as average income levels are expected to fall in the UK.

Research from the Institute for Fiscal Studies found median income will decrease by seven per cent by 2012-13. This reduction will be the biggest three-year drop in 35 years.

The study focussed on accessing poverty rates in the UK based on economic forecasts and government proposals.

Absolute poverty, as defined by the Child Poverty Act 2010, is expected to affect 600,000 more children in addition to 800,000 adults of employment age.

"Even if there were an immense increase in the resources made available, it is hard to see how child poverty could fall by enough to hit this supposedly legally binding target," said James Brown, one of the study's authors.

Once the government introduces Universal Credit, these figures should fall slightly, but by 2020-21 23 per cent of children will be in absolute poverty, the research predicts – much higher than the objectives set out in the act.

This comes after the government was urged to return to previous child benefit policies and tax credits by Alison Garnham from the Child Poverty Action Group

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-800756707-ADNFCR

Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Post Code 
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide