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Debt advice for bus pass changes
19/07/2010
Debt advice for bus pass changes
People approaching retirement age could soon find themselves in need of a Debt Management Plan if transport costs start to eat away at a limited income.
It comes as the age at which people get a free bus pass could go up earlier than planned under new cost cutting measures.
The Department of Transport currently spends £1 billion a year on free travel for the elderly and is looking to cut it's spending by 25 to 40 percent.
That could mean that a plan to increase the bus pass age from 60 to 65 years old could be brought forward from the currently anticipated 2020 deadline to much sooner.
Deputy Prime Minister Nick Clegg said: "We're not going to scrap free bus passes but clearly we're going to review how it operates."
"But it's far, far too early to suggest we are going to do one thing or another, because this is all the kind of thing we're going to have to look at in the round as we try to balance the books over the autumn in the comprehensive spending round."
However shadow transport secretary Sadiq Khan said that David Cameron owed the public an apology.
"His mock outrage during the general election campaign has been shown up as a cynical and misleading act, and his manifesto commitment to protecting concessionary fares as a sham."
"But more importantly, this news will cause anxiety for hundreds of thousands who could be affected - having misled them during the election campaign, David Cameron owes it to them to come clean now and confirm unequivocally what his plans are for free bus passes."
Michelle Mitchell, charity director from Age UK was also concerned about the affect that changes may have on the elderly, saying that "Although we understand that tough decisions need to be made in today's economic climate, it must not be ignored that free local bus travel is a lifeline for many older people."
"It helps people to remain independent and access local amenities and services, and can be an important way to keep in contact with friends and family, helping to tackle social isolation."
If you need to make sure that your finances are in order so that you can enjoy later life then call ClearStart today.
Our debt advice can identify the most appropriate debt solution, whether that is an IVA, a Debt Management Plan or a Debt Relief Order, and help you to get rid of debt and start planning for your future.
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