HC Deb 06 November 2002 vol 392 cc295-6W
Ms Walley

To ask the Chancellor of the Exchequer if he will make a statement on the strategy for a national financial advice network; and if this will include the contribution made by(a) credit unions and (b) friendly societies in providing advice to the financially excluded. [79399]

Ruth Kelly

It is important that everyone should have access to appropriate financial education, information and generic advice to understand his or her options, as well as having access to regulated product specific advice where appropriate.

There have been proposals for a new network to provide financial education, information and generic advice, and we have noted those proposals with interest. Many organisations are already involved in the provision of those forms of help.

All financial services firms can already support the provision of help for the financially excluded.

The Credit Unions Act 1979 sets out the objects of a credit union, which include the training and education of members in the wise use of money and in the management of their financial affairs. The Government support credit unions welcome contribution to tackling financial exclusion.