Chancellor launches money advice scheme

Tenants in Liverpool had the chance to talk finance with the Chancellor of the Exchequer, Alistair Darling, when he visited their social landlord to launch a new national scheme called ‘Money Made Clear’.

The scheme was initially piloted in the North West and was organised by RAISE, a charitable organisation that received funding from Liverpool Mutual Homes (LMH). The Chancellor visited LMH’s headquarters to announce the national roll-out of Money Made Clear after its success in helping LMH tenants tackle financial issues.

It provides specialist benefits and debt advice to tenants by providing them with the support and information they need to maximise their income.

The organisation advises up to 30 LMH tenants every week on Housing Benefit, general benefits, and offers comprehensive advice on financial matters, their rights and actions if they feel they are not getting a fair deal. It also explains the benefits system and provides practical help in submitting claims.

Chancellor Darling, said: “Money Made Clear 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 grand-children or you want some help dealing with repayments before they get out of hand. This service will provide much needed advice for one million people across the UK in the coming year alone.”

Chief executive of LMH, Steve Coffey, said: “We are pleased to see RAISE’s work in the Money Made Clear project being recognised and now being rolled out nationally.

“Helping our tenants financially is part of our broader strategy to improve their lives and general well-being by reducing anti-social behaviour, tackling fuel poverty, providing opportunities to train and work as well as our core work to improve their homes and neighbourhoods.

“Financial worries can have a detrimental affect on people but by working with RAISE we have been able to offer support and advice to tenants so they are aware of all the benefits they are entitled to and this plays an important role in preventing them from becoming burdened with debt.

“In addition to this support, our £400 million regeneration programme is using the latest energy efficient products to make homes more sustainable and this is reducing fuel bills by more than 70 per cent, meaning tenants have more money at their disposal.”

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