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PPI claims could boost income levels for unemployed

Payment protection insurance (PPI) claims and loan refunds could help provide a financial boost for those families who are being affected by long-term unemployment.

The latest figures from the Trades Union Congress (TUC) show that up to 300,000 families may have been relying on Jobseeker's Allowance as their only source of income for the past 12 months.

According to the union's figures, the number of people without a job for a year has increased by 35,000 since Christmas 2010.  

Areas most affected this year have been Scotland and London.

TUC general secretary Brendan Barber said: "As people gear up for the festive break, there won't be much cheer for the quarter of a million people who are spending their second successive Christmas on the dole."                                                                                                                                       
This comes after recent research conducted for the Bank of England found that the majority of households in the UK had experienced an income squeeze during the last year.

Charles Baker

Charles is a reputed financial analyst with decades of experience under his belt.ADNFCR-2776-ID-801246752-ADNFCR



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