Public spending cuts 'could cause homeowners financial problems'

Cuts to the UK's public sector could pose financial problems for some of the nation's homeowners, it has been suggested.

According to the Joseph Rowntree Foundation's poverty research manager Chris Goulden, the consequences of the economic downturn are still likely to be felt by many.

He commented: "With many communities facing additional pressures from the effects of the recession and the predicted public spending cuts, these issues will continue to be a major problem for many households."

Mr Goulden also noted that more action needs to be taken in order to reduce the number of the country's residents who are currently having to face up to the prospect of poverty.

While some consumers may look to get credit in order to respond to financial pressures, Citizens Advice and a number of other charitable bodies have recently stressed how important benefits like tax credits can be to the UK's families.

Posted by Tom Burroughs.