Giving disabled people control of their finances: Invitation-only roundtable to mark the launch of Asset Building for Children with Disabilities (ABC-D), a new report in partnership with Scope
To live independently you need to be able to control your finances – especially in times of uncertainty. How you manage your money affects your resilience to cash crises and unforeseen emergencies.
Disabled people are disproportionately likely to live in poverty, have large debts and no savings. As Respublica’s new ABC-D report shows, the current state of affairs penalises parents of disabled children who have saved for their child, and leaves many disabled households vulnerable to financial shocks.
For parents of disabled children, as their child reaches adulthood they are forced to spend any financial nest-egg that they have built up in order for their child to qualify for social care provision. For disabled adults, a dearth of flexible financial products for disabled people can make managing their social care package – which increasingly comes in the form of ‘direct payments’ to buy services – extremely challenging.
As a result, disabled people are increasingly finding themselves in stormy waters, without the financial tools to navigate through them.
ABC-D provides a fresh and much-needed contribution to debates on disability poverty, bringing to light new and innovative ideas as to how assets and savings can better the life chances of disabled children and make them more independent as adults. The report presents new recommendations aimed at improving disabled children’s financial resilience, smoothing the transition into adulthood, and improving the opportunities for young disabled people to realise their potential.
The event will take the form of a breakfast roundtable at which Richard Hawkes will speak about the importance of financial inclusion for disabled people. Phillip Blond will be responding, outlining the report and its recommendations. There will then be a chance to pose questions to both speakers as well as Eric Leenders from the British Bankers Association.
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