Thursday 15 July
The Financial Secretary to the Treasury, Mark Hoban, has pledged that families will benefit from a free money advice and an annual financial health check, in a speech to the Consumer Financial Education Body last night.
The Minister also announced that the Government is launching a range of simplified financial products to encourage people to save, and that better information will be available to help them make informed decisions.
Mr Hoban said: “We want to nudge people in the direction of healthy financial behaviour, including saving and protecting their families from financial shocks. That is the approach that we want to see through the annual family financial healthcheck. The healthcheck will help families and individuals get into the habit of taking a thorough look at their finances. It will show them where they are most at risk and it will show them how they can regain control and plan for the future. The healthcheck will give people a ‘prescription’ that will offer clear advice on what they can do to improve their financial situation now and for the years ahead.”
A full transcript of the speech is available at www.hm-treasury.gov.uk/press_26_10.htm.