Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps his Department is taking to support money advice organisations in communities.

In January 2019 the Government established the Money and Pensions Service (MaPS) with the objectives to simplify the existing public financial guidance landscape and offer more holistic support to consumers. MaPS brings together the functions of the three former organisations that provided free-to-use financial guidance: the Money Advice Service, The Pensions Advisory Service and Pension Wise.

The Government is committed to helping people access money guidance when they need it and recognises the impact of the pandemic on people’s personal finances.

MaPS partners with local money guidance organisations and signposts to them through its website and its online Money Navigator Tool. This tool was developed in response to the Covid-19 pandemic and was launched in June 2020; it provides financial guidance tailored to individual needs.