HM Treasury has published a consultation paper on public financial guidance (that is, the public provision of free-to client, impartial financial advice).  The paper focuses on the role of the Money Advice Service (MAS) and considers the current provision of public financial guidance relating to:

  • MAS’s role relating to debt advice and, among other things, asks what additional or alternative functions and structures could be put in place to coordinate debt advice provision.
  • MAS’s statutory objectives and the role, if any, a statutory body should have in providing general money guidance and in supporting financial capability.

The consultation follows on from the independent review of MAS that published recommendations in March 2015.  The deadline for responses is the 22 December 2015.  HM Treasury will report on the outcome of the consultation before the 2016 Budget.