Tuesday, 14 November 2023

Financial Counselling Victoria

Tim READ (Brunswick) (13:00): Victorians are paying more for groceries, rent, energy bills and mortgage repayments, and it has all been getting worse this year, putting many in severe financial stress. Calls to the National Debt Helpline increased by 47 per cent in the first six months of this year. While more can and should be done to limit these increases in the cost of living, right now too many Victorians are struggling. Financial counsellors provide an important service to support those facing debts and mounting bills. They know a lot of tricks, like what hardship schemes are available, when debts can be waived and what assistance is available, and more Victorians should know about financial counsellors and should see one before rather than after they go under. But right now, during a cost-of-living crisis, with spiralling supermarket prices, rent and energy bills, there is a shortage of financial counsellors, and there are other workforce problems for financial counsellors, including a lack of internship and student placements. Financial Counselling Victoria is just asking for a very modest $2 million for an additional 10 financial counsellors and then $3.6 million over three years to extend the employment of 10 financial counsellors and address those workforce issues, and I encourage the government to urgently fund this.