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LibDems call for generic advice service to be fast tracked

The LibDems have welcomed the Government’s taskforce to design a national generic financial advice service but have called for the scheme to be implemented sooner than proposed.
LibDem Shadow Chancellor Vince Cable says he is glad the Government has “finally woken up” to the needs of millions.
But Cable says it is “shocking” the scheme will not be up and running until 2012.
Cable says: “It would seem that even the Government now recognises that while millions remain eligible for means tested benefits, people will not know their suitability for Personal Accounts without independent advice.
The Government does not need to reinvent the wheel around financial advice but should aim to build on existing services in partnership with organisations such as the Citizens Advice Bureau.”

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