The Government has announced it is commencing an immediate review that will focus on the coordination and funding of financial counselling services. It will consider gaps and overlaps in current services and the adequacy of appropriate delivery models for future funding.

The Department of Social Services provides funding for financial counselling services around the country. These services, however, face a number of challenges including inconsistent and short term grant-based funding streams, fragmented delivery across jurisdictions and high demand.

This review is a chance to increase predictability and stability in funding for financial counselling, as well as consider whether funding sources can be broadened. States and territories, private and not-for-profit funders, the financial services sector and those involved in service delivery will be consulted.

The review will be led by the Department of Social Services in consultation with Treasury and the Department of the Prime Minister and Cabinet.