Money and Pensions Service publishes the findings of its debt advice strategy consultation

• The Money and Pensions Service (MaPS) has published the findings of its consultation into the delivery of its debt advice strategy.
• The consultation received over 60 responses from organisations and individuals from across the debt advice sector.
• Having reviewed the feedback received, MaPS is continuing to develop its debt advice strategy. This will include continued engagement and collaboration with the sector on future areas of focus, and as more detailed proposals are developed. 

The consultation on MaPS proposals for the delivery of its debt advice strategy set out MaPS’s approach to debt advice up to 2028 and sought views on the proposals and possible areas of future focus covering its role as a commissioner for debt advice services and the strategic issues within the debt sector.

It was open from January-April 2024 for organisations and individuals involved in delivering debt advice, organisations that refer their clients and customers into it, organisations that fund it, and other interested stakeholders.

Within the consultation, MaPS also sought to understand alternative or complementary proposals and ideas on the role it could take.

The consultation was the second of three stages, and followed the conclusion of stage one (evidence-gathering).

Oliver Morley, Chief Executive of the Money and Pensions Service, said:  

“I am hugely grateful to the individuals and organisations who took the time to share their views on our proposals. We know that responding to the consultation was not a small task, particularly for organisations working hard to deliver frontline services.

“I’ve been heartened by the level of collaboration between MaPS and our stakeholders, exploring how we can all work together. As we move to the next phase of developing the strategy I look forward to us working together with the same level of collaboration, communication and openness.  

“Debt advice can be life changing, and making sure our funding is used as effectively as possible will help drive even more positive transformation for clients.”

– ENDS –

In 2021/22, MaPS undertook a major commissioning exercise for debt advice. Following this, it committed to a public consultation aimed at helping to shape its future strategic approach in this area and to understand the best ways to commission national and community-based services long term. We set out an intention to undertake a three-stage approach:

• a phase of evidence gathering, analysis and planning
• a consultation – where we formally invited people to respond to our proposals
• a process of engagement with the market leading into subsequent commercial activity.