The Treasury and the Financial Services Authority has today launched its joint £12m Moneymadeclear service in the North-East and North-West of England.
The service will provide consumers based in these areas with impartial advice to tackle money worries including avoiding debt problems and coping with a change in circumstances.
Moneymadeclear will act as a blueprint to the test the likelihood of a national money guidance service, as recommended by the Thoresen Review last March.
The service is aiming to reach up to 750,000 consumers in the North-East and North-West of England by spring 2010.
Ian Pearson, economic secretary to the Treasury, says: “I am delighted to launch the Moneymadeclear service pathfinder.
“Those facing money concerns or questions need to know that good, practical help is at hand.”
He adds: “The launch of the pathfinder today marks a major milestone on the journey to achieving the government’s aim of a national money guidance service.”
“It is clear that the need for this service is greater than ever.”
Chris Pond, director of financial capability at the FSA, says: “We want Moneymadeclear to help give the public the confidence and capability to make the most of their money – now and in the future – by providing guidance that they need on the money matters that shape their everyday lives.
“Improving the public’s ability to make financial decisions is in everybody’s interests.
“If consumers know what they want and how to get it, the financial services market become less one-sided and a lot more efficient.”