New media comment: Public Financial Guidance review response

Thursday 17 March 2016

Caroline Rookes, Chief Executive for the Money Advice Service comments on the Public Financial Guidance review response

“It is important that people continue to have access to free debt advice and that work to improve financial capability and financial education continues. The proposed remit for the new organisation is consistent with the recommendations of the Independent Review - that the Money Advice Service should move away from direct delivery of money guidance and focus on filling gaps. The draft business plan for 2016/17 set out how we proposed to move towards a more strategic organisation focused on gap filling. This announcement accelerates the pace of the change significantly. We plan to publish our 2016/17 business plan by the end of April.

“We will share our knowledge and skills to support the development of the new guidance delivery model. In the meantime we will continue to fulfil our statutory role to help people make the most of their money and ensure a smooth transition to the new organisation by April 2018.”