New action plan to help Aussies feeling the pinch

Australia’s leading companies and not-for-profit organisations have joined forces to improve the support on offer to people experiencing financial hardship.

Federal Assistant Minister for Children and Families, Dr David Gillespie, today addressed the launch of the Financial Inclusion Action Plan (FIAP) program in Sydney.

The Plan brings together 30 major organisations and establishes practical actions they can take to promote financial inclusion. Some of these actions include improving access to safe, affordable finance; targeted household financial management and developing entrepreneurial skills and networks.

Minister Gillespie said that the Federal Coalition Government was investing in initiatives addressing financial vulnerability among Australian families.

“Financial stress can be a source of pressure and anxiety for some families. It’s crucial that we do what we can to strengthen financial inclusion in Australia, and that’s what the FIAP program aims to achieve.”

The Federal Coalition Government has been investing funds towards the development of phase one of the FIAP program through Good Shepherd Microfinance.

“Now that the FIAP framework has been established, it is encouraging to see the enthusiasm of so many organisations working together to help address financial hardship in Australia,” Minister Gillespie said.

The Federal Coalition Government invests around $100 million a year under the Families and Communities Program which includes funding for financial counselling, financial capability, microfinance services and emergency relief.

More information on the FIAP program can accessed at http://goodshepherdmicrofinance.org.au/services/financial-inclusion-action-plans-fiap/