Citizens Advice 'welcomes' Financial Capability Action Plan

Citizens Advice has spoken out in favour of the government's new Financial Capability Action Plan.

The group has stated that it believes the plan, introduced by the Financial Services Authority, is necessary in order to meet demand for impartial monetary advice.

Furthermore, it commented that it is important that the service remains free of charge and that the national system could help the "UK economy as a whole".

It can also help reduce the risk of debt problems while ensuring that Britons save, the body said.

"Today more than ever before people need access to free, impartial financial information and advice so that they can plan for their and their family's future effectively," the company commented.

Citizens Advice's origins trace back to 1924, after a public assistance report concluded that advice centres should be set up for the public.

Some 200 bureaux were set up in 1939.

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