Financial advice helpline could cost £25m - papers 30th May

According to the paper, the think-tank Resolution Foundation, is working with the government and voluntary agencies to launch a free advice service for people who earn less than £22,400 a year. The research, carried out by McKinsey for the foundation, suggests 90% of people would use a telephone-based service similar to an NHS Direct-type model, while around four-fifths said they would support an independent service funded jointly by the government and the financial services industry. The research is published as MPs prepare recommendations in this area as part of the Treasury Select Com...