Thursday 20 May 2010

Free financial advice (paid by the financial services industry)

SIMONNE UPDATES US ON THE GOVERNMENT'S PLANS FOR FUNDING FREE FINANCIAL ADVICE:

Great news that the new coalition agreement published today (20 May) confirms the Con/Lib’s commitment to introduce a new service where you’ll be able to get free impartial advice on money matters via face-to-face, telephone and online sessions. While this was the plan under the Labour government too, it’s reassuring that they haven’t pulled the plug on this idea. The only difference is that instead of the cost being shared between the government and the financial services industry, it’s now going to be totally funded through a social responsibility levy on the financial services sector. Another spending cut that’ll be hidden to most of us, although you bet the industry won’t like it!



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