Social Justice Minister Carl Sargeant has outlined the progress that has been achieved since the Assembly Government launched its Financial Inclusion Strategy almost a year ago.
The Minister explained that a key component of the “Taking Everyone into Account” strategy is providing access to advice and support on debt management.
“Not surprisingly we have seen an unprecedented increase in levels of demand for debt advice in Wales” said the Minister. Citizens Advice bureaux are now dealing with an average of 9,300 new debt cases every day.”
To tackle this, the Assembly Government has helped fund a new advice line for Citizens Advice Cymru and also the Housing Debt Helpline, which offers telephone based counselling to anyone at risk of losing their home.
Other key priorities include ensuring access to responsible lending through credit unions, increasing benefit take up by those who are entitled to it and keeping people in their homes.
The Minister also explained how the strategy went beyond supporting people through their financial difficulties to ensuring they develop the right competence and attitude around financial planning.
“Given the economic context, a clear and immediate priority for the Strategy was to respond to financial difficulties that people in our communities were and are experiencing” said the Minister.
Looking ahead we are also addressing the need to improve attitudes and abilities around financial management and understanding”.
Already over 3000 employees in Wales have attended Financial Services Authority financial capability seminars and, through our Welsh Financial Education Unit, training has been delivered to teachers in over 130 secondary schools.”
