Authorities in the United Kingdom are launching new programs to promote personal financial education and to provide financial advice for poor families.

The UK Treasury and the Financial Services Authority announced a Financial Capability Action Plan that sets out new measures to give people free advice and assistance to help them to better manage their finances.

The plan includes:

> expanding the provision of information and support based around an FSA website and consumer helpline;

> a new £12 million program to deliver free advice on issues such as budgeting, money management and planning; and

> greater support for personal finance education in schools.

“We need to make it much easier for people to get access to information, help and advice,” said chief secretary to the Treasury Yvette Cooper. “The government is also determined to do more to create an environment where people get personal finance education and information from the start of their lives to the end; helping them with money problems and supporting them at key points in their lives, for example moving into higher or further education, having a baby, or planning their retirement.”

Hector Sants, chief executive of the FSA added, “In partnership with the government, we want to develop money guidance to help consumers to be able to make sound money choices, to know what questions to ask of their financial service provider, and, just as importantly, to have the confidence to do so and to know where to go if things go wrong.”