Treasury Launches 'Financial Capability' Plan

Britons struggling with mounting debt could be in line for help from the government.

Yvette Cooper, chief secretary of the Treasury, and Hector Sants, chief executive of the Financial Services Authority (FSA) jointly announced details of the soon to be introduced action plan earlier this week.

It is set to feature a £12 million programme designed to offer free advice on money matters to households across the north-west and north-east of England.

Meanwhile, funding of £11.5 million will support a three-year personal finance education project in schools in addition to a £16 million grant that will go towards the FSA's Learning Money Matters programme.

The Moneymadeclear website and consumer helpline give specialist advice on debt problems, mortgages and utility bills, as well as guidance for first time buyers.

Speaking of the initiative Ms Cooper said: "Many families are feeling the pinch as a result of high fuel and food prices, and the impact of the credit crunch on mortgage lending.

"But when people are facing money worries they often don't know where to turn. We need to make it much easier for people to get access to information, help and advice."

Mr Sants added that the FSA is "delighted" to be able to extend its information campaign "to benefit the many people who may be struggling with their finances in these tougher times".