Small Amount Credit Contract and Consumer Lease Reforms – Joint Submission

Submission to: Senate Standing Committee on Community Affairs
Joint submission from FCA and state and territory financial counselling peak bodies for the inquiry into the extent and nature of poverty in Australia. Poverty affects many financial counselling clients and our submission is based on these casework experiences. Due to ongoing structural issues, such as geography, stagnant or low wage growth, cost of living increases, insecure work and the erosion in the financial value of income support mechanisms, the face of poverty is changing. Unfortunately, as we know, inequality is increasing. The submission includes recommendations for the inquiry to consider across income support, universal basic income, housing affordability, consumer credit and funding for financial counselling services.