Post by nickd on Feb 12, 2011 9:05:35 GMT 1
It looks as though Government has done a u turn on Financial Inclusion Funding - by extending it with a £27 million reprieve.
Here's how it's being reported by SKY NEWS
Debt Advisers Get A £27m Reprieve
Britons struggling with debt will continue to get face-to-face advice after the Government pledged £27m to fund debt advisers.
Many Britons racked up big debts when credit was easy to come by
The Financial Inclusion Fund had been paying for around 500 specialists in England and Wales to give free advice.
However, the future of provision was called into question last month when ministers said they would axe the fund, and advisers stopped taking new cases.
The new cash, which has come from the Department for Business, Innovation and Skills, will enable Citizens Advice and other independent debt advice groups to continue offering a free face-to-face service in England and Wales during 2011/2012.
The Government said it wanted people facing financial difficulties to get advice early - rather than having to wait until their problems spiralled out of control.
Business Secretary Vince Cable said: "While the Government has maintained funding for this programme, it provides only a small part of the revenue necessary to keep Citizens Advice afloat.
"I would like to take this opportunity to call on the other funding streams, such as from local authorities, to help provide whatever support they can to keep this excellent service going."
A record 135,000 people were declared insolvent in 2010, as increasing numbers of consumers struggled to keep up with their debts.
The figure is expected to rise further to 140,000 this year, with levels remaining elevated well into 2012, as the full impact of government spending cuts are felt.
Well said Vince Cable!
Check the link - hope I'm hearing this right!
news.sky.com/skynews/Home/UK-News/Debt-Advisers-Such-As-The-Citizens-Advice-Bureau-To-Get-A-27m-Reprieve/Article/201102215928945?lpos=UK_News_First_Home_Article_Teaser_Region_3&lid=ARTICLE_15928945_Debt_Adv
Here's how it's being reported by SKY NEWS
Debt Advisers Get A £27m Reprieve
Britons struggling with debt will continue to get face-to-face advice after the Government pledged £27m to fund debt advisers.
Many Britons racked up big debts when credit was easy to come by
The Financial Inclusion Fund had been paying for around 500 specialists in England and Wales to give free advice.
However, the future of provision was called into question last month when ministers said they would axe the fund, and advisers stopped taking new cases.
The new cash, which has come from the Department for Business, Innovation and Skills, will enable Citizens Advice and other independent debt advice groups to continue offering a free face-to-face service in England and Wales during 2011/2012.
The Government said it wanted people facing financial difficulties to get advice early - rather than having to wait until their problems spiralled out of control.
Business Secretary Vince Cable said: "While the Government has maintained funding for this programme, it provides only a small part of the revenue necessary to keep Citizens Advice afloat.
"I would like to take this opportunity to call on the other funding streams, such as from local authorities, to help provide whatever support they can to keep this excellent service going."
A record 135,000 people were declared insolvent in 2010, as increasing numbers of consumers struggled to keep up with their debts.
The figure is expected to rise further to 140,000 this year, with levels remaining elevated well into 2012, as the full impact of government spending cuts are felt.
Well said Vince Cable!
Check the link - hope I'm hearing this right!
news.sky.com/skynews/Home/UK-News/Debt-Advisers-Such-As-The-Citizens-Advice-Bureau-To-Get-A-27m-Reprieve/Article/201102215928945?lpos=UK_News_First_Home_Article_Teaser_Region_3&lid=ARTICLE_15928945_Debt_Adv