Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what steps she is taking to improve access to financial advice for people with little to no savings.

The Government is committed to supporting people of all income levels and all stages of life to save, and recognises the importance of accessible, high-quality financial advice and guidance - particularly for those with little or no savings.

To help achieve this, the Government sponsors the Money and Pensions Service (MaPS), which provides free and impartial money and pensions guidance to the public online and by telephone. MaPS also offers a range of practical tools and resources to help individuals build savings, including a free Budget Planner and guides to help people manage their money, track spending, and identify opportunities to save.

At the Autumn Budget last year we extended the Help to Save scheme, which encourages low-income workers to save regularly. This Government also extended the eligibility criteria to include all Universal Credit claimants in work, not just those earning above a certain threshold

In addition, the Government is taking forward a Financial Inclusion Strategy to ensure that everyone has access to appropriate and affordable financial products and services. As part of this strategy, we are considering what more can be done to support people to build savings and strengthen their financial resilience.