Financial exclusion was a growing concern before the credit crunch hit. In its aftermath, in the form of cuts to welfare benefits and local services like money advice, it is set to grow. Social housing tenants will be affected particularly severely since they make up a large part of those on low incomes and welfare benefits. They are also disproportionately dependent upon high-cost credit, including both legal and illegal aspects.
From his wood-panelled office in the 1930s-built Trafford Town Hall, some might say Nick Gerrard has landed one of the cushiest economic development posts in the country.