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Cable calls on government to delay SMI changes

March 17, 2018 8:00 PM

Liberal Democrat leader Vince Cable has called on the government to delay changes to its Support for Mortgage Interest (SMI) scheme.

This week's Spring Statement revealed that just 10,000 people have opted into a change to stop their receipt of mortgage benefit ending next month according to the Office for Budget Responsibility's Economic and Fiscal Outlook.

This is only 10% of the anticipated figure.

With 90% of recipients in limbo, Vince Cable called on the government to act quickly to protect these vulnerable home owners:

"The lack of take-up for this scheme is financially dangerous for tens of thousands of families at a time when personal debt is already mounting."

"The scheme must be re-advertised and delayed so that more people sign-up and don't end up in chronic debt."

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