3 April 2006
A government programme that gives cheap loans to people on low incomes has been boosted by a budget increase.
The Social Fund offers interest-free loans to millions of people, helping them cope with large and unexpected expenditure.
Another £120 million will be injected into the fund for this financial year, as £210 million is added to the pot over the coming three years.
Those eligible for one of the loans will also now be able to borrow a larger amount, while having a longer time to repay it.
"Overall this is a significant package of changes, which will make loans more affordable and easier to access for those in greatest need," said minister for work and pensions James Plaskitt.
"The aim is to ensure that when people are in dire financial situations they have somewhere they can turn without having to resort to alternative high cost lenders."
He also announced the extension of another government scheme designed to help those most in need of financial help.
"I am also pleased to announce an increase to the national discretionary Community Care Grants budget for the seventh year running to £141 million," he added.
"Funding for Community Care Grants, which provide help for the most vulnerable, has increased by over 40% since 1999."
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