Question to the HM Treasury:

To ask the Chancellor of the Exchequer, whether her Department plans to improve access to free debt advice; and if she will make a statement.

The Government is committed to ensuring that people in financial difficulty have access to free, impartial debt advice. Through the Money and Pensions Service (MaPS), the Government funds a range of national and community-based services to support individuals and families across England. The Government also provides funding for debt advice services in Scotland, Wales and Northern Ireland, which are delivered by the devolved governments.

Funding levels for both MaPS and the devolved governments are regularly reviewed to reflect demand, inflation, and evolving needs.

MaPS’ latest impact report shows that people accessing the debt advice services it funded in 2023/24 gained an estimated £48 million in additional income, demonstrating the value of these services in supporting financial resilience. MaPS is continuing to expand access to its services by strengthening its digital capabilities and working in partnership with local organisations, to ensure support is available to those most in need.

In addition, the Government is currently developing a Financial Inclusion Strategy which aims to improve access to financial services and support, including debt advice. The strategy will be published later this year.