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Debt programmes get 8.5m Govt injection

The Chancellor has pledged a further 2.5m from the financial inclusion fund to increase its number of debt advisers to 500.

In the pre-Budget report, the Government said it recognises that debt and money management problems are best tackled by face-to-face advice and has so far committed 45m.

It says the extra cash will help fund the recruitment and training of 350 new full-time equivalent advisers to be in place by the end of the year. It says over 6,500 clients have so far been advised since April when the scheme started.

The Government has also awarded 6m to organisations in England and Wales to pilot a debt advice outreach programme to deliver money advice to financially excluded people. It will also pay 5.4m to support a campaign for financially excluded people to access mainstream banking and credit products.

In a statement, the Government said: “Credit is a useful tool for managing expendi- ture for most people but some have difficulty managing their borrowing and become over-indebted. The Government recognises that face-to-face money advice is an effective mechanism for tackling problem debt and has committed 45m from the financial inclusion fund to achieve a step change in supply.”

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