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Government launches new financial guidance service

The government has announced the launch of a new financial advice service, which will be trialled in the north-west from today. Residents in the north-west will have access to impartial financial information and guidance, by phone, face-to-face or on the web, as part of a three-month government-funded trial of the new Consumer Direct service.The service is intended to help people to fully understand the services offered by insurers and other financial institutions, as well as offering support to those requiring budgeting advice. Phil Ashcroft, head of trading standards at Cumbria county council, said: "Trading Standards Services in the north-west are all too well aware of the impact that bad financial decision making has on the most vulnerable in society - and we are fully behind this project which has the real potential to help people make informed and considered financial decisions." The government plans to use feedback on the trial to help determine the best way to deliver generic financial advice across the country in the future.

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