In response to the publication of the Treasury’s Impact Assessment of the proposed ‘breathing space’ policy, Mark Sands, Chair of insolvency trade body R3’s Personal Insolvency Committee, said:
“The breathing space scheme is something we have campaigned for and supported for many years. Giving people in debt time to talk over their options with a professional advisor will help them to choose the right way forward for them, without additional stress or pressure.
“The Government’s prediction that many hundreds of thousands of people will benefit from the scheme in the first year that it is introduced shows the crying need for breathing space, and we eagerly await more detail on its introduction date and how it will be implemented.”
