teachers budget short term loans

What’s in store for Teachers in the budget?

We all know teachers are an important part of society, looking after our children and building the nation’s future. Teachers often struggle with low pay and poor conditions and this has got worse since the credit crunch. We often find ourselves arranging short term loans for teachers, so what’s in store later this month? Here’s our budget tips for teachers.

Teacher’s pay, is anything changing?

We know there has already been a hint or two on more pay for teachers. Liz Truss, the chief secretary to the Treasury, has written a letter suggesting that the 1% pay rise cap be removed for some jobs. Teachers are expected to be amongst those that benefit.
“The government recognises that in some parts of the public sector, particularly in areas of skill shortage, more flexibility may be required to deliver world-class public services including in return for improvements to public sector productivity,” she said in a letter to the School Teachers’ Review Body.

Stamp Duty changes

As we wrote about a few days ago, there might be changes to stamp duty. This should help younger teachers as new starters frequently need to move to wherever the jobs are. That can leave them seriously in debt if considering buying and facing big rent bills. The changes should help teachers get onto the first rung of the housing ladder.

What do the Unions say

A number of organisations representing teachers say that 7 years of static pay have left many teachers in debt. Teachers face difficulties with reduced wages and increased bills, therefore, many have resorted to short term loans. Many ask how long are short term loans going to keep them afloat while for some the answer is bleak.

Hopefully, as a result, the government will reveal some much needed help for our teachers.