Key charities back call for improved funding for financial counselling
Financial Counselling Australia (FCA) has called on the Australian Government to strengthen access to financial counselling services to deal with rising demand, longer wait times and a growing complexity of cases.
FCA has lodged a detailed submission seeking $19.85 million per year in targeted and sustainable Commonwealth investment. The increase in funding is needed to help stabilise and expand generalist financial counselling and secure specialist services in domestic and family violence, disaster recovery, gambling and small business.
The submission is supported by dozens of major charities, state financial counselling associations and other community organisations, highlighting broad concern across the social services sector that people in financial distress are waiting too long for help, often until crisis point. They have signed onto an official letter of support which forms part of the submission.
“Financial counsellors do extraordinary work with people who are often on the brink of financial ruin,” said FCA’s CEO, Dr Domenique Meyrick.
“They provide free and independent guidance which can help people navigate debt, deal with financial abuse or keep a roof over their heads,” Dr Meyrick said.
“But right now, demand is rising faster than access. Without strengthened national funding, too many people will miss out on the support they need.”
Dr Meyrick said the submission builds on recent industry commitments and calls on the Commonwealth to match that investment to restore a stable national baseline of access.
Key points:
- FCA is seeking $19.85 million per year in Commonwealth funding, over five years
- Funding would support generalist financial counselling and specialist services in DFV, disasters and small business
- Dozens of major charities have endorsed the submission, demonstrating broad sector support
- Without action, wait times will continue to grow and early-intervention opportunities will be lost
Media contact: Maura Angle call 0418 334 121 or email [email protected]