The government yesterday announced a funding top-up for financial counselling services and set timelines for the introduction of an industry funding model for the sector. The Minister for Families and Social Services Amanda Rishworth said the government was committing A$1.2 million for an expansion of the National Debt Helpline. A helpline appointment booking project, which has been designed to simplify the booking process for clients, has been trialled in Western Australia and is being put into service throughout WA, South Australia and the Northern Territory. The new funding will support deployment in the eastern states. The government also committed $550,000 for Financial Counselling Australia to develop a data collection and analysis strategy. Speaking at the FCA’s national conference, Rishworth also said her department has set a deadline of August 31 for participants in the new voluntary funding model to sign memoranda of understanding. Rishworth said: “This timeline is crucial to ensure that the not-for-profit independent body with oversight of this industry funded model can be fully operational by 1 January 2024.” The Hayne royal commission recommended a more stable funding model for the sector, with industry contributions, as did the 2019 Review of the Co-ordination and Funding for Financial Counselling Services for Australia, chaired by former ACCC deputy chair Louise Sylvan. Rishworth said the government had completed consultation with industry and her focus now was on securing funding commitments. She said the Australian Banking Association and the Australian Finance Industry Association have given in-principle agreement to the model. The funding model will involve companies in the financial services, telecommunications and gambling sectors contributing funds. The funding will be additional to existing federal, state and territory funding. Rishworth said the federal government spends close to $50 million a year supporting financial counselling services. “Our government expects a full sign-on and any delay on these MOUs will only be hurting Australians who need support in the current economic climate,” she said.