Statement on Government support package for debt advice services

Industry News | 09/06/20

The Treasury has today announced an extra £37.8 million of funding to provide essential debt advice services and help more people who are struggling with their finances due to coronavirus (Covid-19). The distribution of the funding across England will be overseen by The Money and Pensions Service (MaPS) and will come from a combination of sources: £20.6 million from Government, £14.2 million will be raised through a one-off increase to the debt advice levy and a further £3 million contribution from MaPS. For the Devolved Authorities, £2m (out of an additional £5.9m) will come from the Devolved Authorities’ debt advice levy.