We use our expertise and evidence from our services to influence policy and practice. Our aim is to improve the UK’s money and debt environment for the benefit of people and small businesses in financial difficulty.
Our influencing priorities
We work with governments, regulators, creditors and our partners in the advice sector to influence policy and practice. To maximise our impact, we focus our policy and campaigning work on the following key influencing priorities.
Government debt and bailiff reform
Government debt collection practices lag significantly behind practices seen in financial services and other creditor sectors. We are working hard to improve fairness in government debt management, by presenting evidence from our services, developing recommendations for change and working directly with central and local government. Along with our partners in the Taking Control group of charities, we are also campaigning for fundamental bailiff reform.
The debt options and solutions available to people in problem debt have evolved in a piecemeal fashion over the decades – and we believe a review of the debt options landscape is long overdue. We have also been working for years to shape the government’s new Breathing Space scheme and Statutory Debt Repayment Plans – both of which will play a key role in supporting households’ recovery from Covid-19.
Vulnerability policy and practice
Improving experiences and outcomes for people in vulnerable circumstances remains high on the agenda for the financial services industry and utility sectors. We use our influencing work to press for changes in policy and regulation that will build on this progress – which the Money Advice Trust’s Training and Consultancy service is playing a key role in delivering on the ground. Vulnerability is also a key area of focus in our work to influence central and local government.
Small business debts
We use our evidence and expertise from running Business Debtline, the UK’s only dedicated free debt advice service for small business owners, to secure change for this crucial sector of the economy. Our influencing work includes pressing for greater government action on late payments and developing recommendations on how the millions of small business owners who have taken government-backed loans to deal with the impact of Covid-19 can be best supported.
Regulation and policy across sectors
As one of the UK’s largest debt advice charities we are a respected voice in issues of policy and regulation in financial services, energy, water and other creditor sectors. We produce dozens of responses to consultations and calls for evidence every year, and engage heavily with the FCA, Ofgem, Ofwat as well as credit industry trade bodies and individual firms – all with an aim of improving the UK’s money and debt environment for people in financial difficulty.