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Citizens Advice response to speech by The Financial Secretary to the Treasury, Mark Hoban MP

14 July 2010

In response to the speech by The Financial Secretary to the Treasury, Mark Hoban MP "Promoting a Responsible Approach to Personal Finance the Government's Vision" at the Consumer Financial Education Body Conference, Citizens Advice Director of Public Policy, Teresa Perchard said:

“Citizens Advice welcomes the Government's commitment to move quickly to establish a new national financial advice service* and to take forward an approach designed to ensure that all families can get good, early advice on financial issues and access simpler financial products. We hope this will help consumers to avoid unmanageable debt and products with a sting in the tail, and make better financial decisions in future. We handled over 2.4 million debt problems last year, a 23 per cent increase on the year before and see no decline in demand for the help we can give people with problem debts. We really hope this new service will help families to avoid the significant distress and hardship that debt can bring and pledge our support to make it a success.

“We also welcome the Minister’s commitment to review the Government's investment in debt advice services as part of the Spending Review. Currently many Citizens Advice Bureaux rely on central government funding, including the HM Treasury Financial Inclusion Fund, to provide much needed debt advice services in many communities throughout England and Wales. As things stand many of those services are due to come to an end in March 2011 and a decision about the future would be welcomed.”

* The National Financial Advice service will provide generic financial advice to clients on budgeting, saving and on financial products. This is distinct from debt advice provided to clients in financial difficulty.

Notes to editors

  1. The Citizens Advice service comprises a network of local bureaux, all of which are independent charities, and national charity Citizens Advice. Together we help people resolve their money, legal and other problems by providing information and advice and by influencing policymakers. For more information in England and Wales see citizensadvice.org.uk
  2. The advice provided by the Citizens Advice service is free, independent, confidential, and impartial, and available to everyone regardless of race, gender, disability, sexual orientation, religion, age or nationality. For online advice and information see adviceguide.org.uk
  3. Citizens Advice Bureaux in England and Wales advised 2.1 million clients on 7.1 million problems from April 2010 to March 2011. For full 2010/2011 service statistics see: citizensadvice.org.uk/press_statistics
  4. Out of 22 national charities, the Citizens Advice service is ranked by the general public as being the most helpful, approachable, professional, informative, effective / cost effective, reputable and accountable. (nfpSynergy’s Brand Attributes survey, May 2010).
  5. Most Citizens Advice service staff are trained volunteers, working at around 3,300 service outlets across England and Wales.