You are here: Home - Saving & Banking - News -

Government launches financial action plan

Written by:

Action to give people more support to tackle their money concerns has been unveiled by the Treasury and the Financial Services Authority (FSA).

The Financial Capability Action Plan sets out new measures to give people free advice and assistance to help them to better manage their finances. The action plan also makes further progress towards the FSA’s and the Government’s goal of helping people become better informed, better educated and more confident with money.

The key initiatives outlined in the plan include a £12 programme to deliver free advice on budgeting, money management and planning to help households across the North East and North West. It also includes support for personal finance education in schools.

The measures will help households facing money worries access a wide range of specialist help and advice, making it easier for families to get support from the £200m programme of debt and financial advice services funded by this Government.

Once in place the FSA one-stop shop will also direct people worried by rising energy bills towards independent sources of advice to save consumers money on utility bills.

Chief secretary to the treasury Yvette Cooper said: “Many families are feeling the pinch as a result of high fuel and food prices, and the impact of the credit crunch on mortgage lending. But when people are facing money worries they often don’t know where to turn. We need to make it much easier for people to get access to information, help and advice.

“The Government is also determined to do more to create an environment where people get personal finance education and information from the start of their lives to the end; helping them with money problems and supporting them at key points in their lives, for example moving into higher or further education, having a baby, or planning their retirement.”

Teresa Perchard, director of public policy at Citizens Advice, said: “We welcome the announcement of the pathfinder areas to provide generic financial advice in the north of England.

“Today more than ever before people need access to free, impartial financial information and advice so that they can plan for their and their family’s future effectively, and avoid risks of debt problems from over commitment and having limited savings.”

Related Posts


Tag Box




Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co... Awards 2018

Now in their 21st year, our awards recognise the companies offering the best products and services to consumers

Money Tips of the Week

Read previous post:
UK ups borrowing while savings stagnate

For every pound saved over the last quarter, the British public borrowed 69 pence, according to Unbiased.