Local Assembly member for Monmouth, Nick Ramsay, attended an event held at the Senedd this week organised by the debt charity StepChange to highlight the findings of its report entitled “Wales in the Red”. StepChange is the UK’s largest debt advice charity and is contacted by around 600,000 people every year, and provides free and independent debt advice to over half this number.
The report found that one in four Welsh adults is showing signs of financial distress. The report also provides a troubling snapshot of the debt landscape in Wales. Among clients who sought the charity’s help between July 2018 and June 2019, the average level of unsecured personal debt was £10,415. Meanwhile, more than half (54%) of clients were aged under 40, despite just 34% of Welsh adults in the wider population falling into this age group.
Speaking today Nick said: “ The report provides some worrying statistics about the levels of personal debt in Wales. I will be supporting StepChange’s calls for the Welsh Government to work with the charity to improve the help and protection available to all those struggling due to debt in Wales.”