Updated: Jun 26, 2020
Read our full press release.
We know that the Covid-19 crisis has had disproportionate effects on Diverse Ethnic Communities (DEC) (/BAME) and disadvantaged groups.
At Money A+E approximately 85% those who use our debt and benefits advice service are non-white British nationals. We target our activities to Newham and other London boroughs with above-average levels of deprivation.
‘Newham [where Money A+E is based] is the UK’s most ethnically diverse borough and has been hit hardest by Covid-19. This is a financial as well as a health crisis for our residents, who were already dealing with the highest rates of debt and of low pay in the country. They, and others in hard-hit areas, need urgently to be able to access emergency debt and money advice.’ – Rt Hon. Stephen Timms, MP for East Ham (Newham)
We have seen a 3x increase in demand for the service during the lockdown, and unprecedented demand for our emergency grants to cover household expenses.
However, community-led services like Money A+E simply do not have the capacity to keep up with this demand. This is despite providing frontline support for those who are in many cases almost entirely without income.
That is why we are urgently calling for more funding and support for:
· Money advice
· Money education - as a means of building long-term financial, personal and community resilience.