Photo: RNZ / Alexander Robertson
Financial mentors are calling for financial services to be levied, as a way to help fund the budget advisory sector. FinCap has made the proposal in its submission to the Finance and Expenditure Committee, in response to this year's Budget Policy Statement. More than half of the services which provide financial mentoring advice and support no longer receive Government funding.
There were 44 that lost funding in the latest funding round. Advisory services are increasingly relying on their own staff to take pay cuts, or forgo a paycheck altogether, in order to continue operating. David Baines is the chief executive of Kingdom Resources in Christchurch and is on the board of FinCap and Jake Lilley is policy advisor at FinCap.
