Page last updated at 17:31 GMT, Thursday, 11 March 2010

Free government financial advice service launched

CAB sign
Face-to-face sessions will be available at CAB offices

A free national financial advice service is being launched by the government.

Called Moneymadeclear, it offers a telephone helpline, website and face-to-face sessions with independent financial experts.

The service will be jointly funded by the government and the Financial Services Authority.

A trial version in the North of England in the past year helped 500,000 people, the government said.

"Moneymadeclear is free, impartial advice for all, whether you are unsure about the small print in a mortgage form, want advice about opening a savings account for your children or grandchildren, or you want some help dealing with repayments before they get out of hand," said the Chancellor Alistair Darling.

"This service will provide much needed advice for one million people across the UK in the coming year alone."

Personal advice will be available in offices of organisations such as Citizens Advice Bureaux and Age Concern.

The roll-out of the service will cost £20m in the first year and in future years it will be paid for by taking up to £100m from dormant bank accounts, as announced in last year's pre-Budget report.

The Moneymadeclear website and the helpline on 0300 500 500 are already available.



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