Financial Inclusion Fund ‘extremely pleasing’
New government measures regarding financial exclusion have been hailed by a consumer finance charity.
Economic secretary to the Treasury, Ed Balls, has announced that the Financial Inclusion Fund will run until 2011 in order to attempt to reduce debt and help people manage their finances more effectively.
This follows last April's move by the government to award £33 million over two years to Citizen's Advice so it can train enough staff to help 100,000 people on low incomes.
Now, the charity has commented that it is "extremely pleased" with the news.
"Financial exclusion has a huge impact on thousands of the most vulnerable individuals and families in society… We're very pleased that the government sees financial inclusion as such a high priority," said Teresa Perchard, director of policy for the company.
Citizens Advice deals with 5,300 consumer debt problems every day.
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