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Money: Advice

Volume 715: debated on Wednesday 2 December 2009

Question

Asked by

To ask Her Majesty's Government when they will deploy a fully functional money advice service across the United Kingdom, including a face-to-face option for individuals who request it. [HL52]

The Government are testing the Thoresen review's blueprint for a generic financial advice or ‘money guidance’ service through a large-scale pilot or pathfinder in the north-west and north-east of England. Launched in April, it is on track to meet its target to reach over 500,000 people by March 2010, through the Moneymadeclear website, helpline and face-to-face services provided by a wide range of local partners.

Interim evaluation findings from the pathfinder indicate that the money guidance service can be effective. The money guidance service will therefore be rolled out nationally from spring 2010.

The Moneymadeclear website and helpline are already available to people anywhere in the UK. Promotion of the service across the UK is expected to begin from spring 2010. The introduction of face-to-face money guidance sessions across the UK is likely to be phased over a number of years.