Release of the Government response to the Countervailing Power: Review of the coordination and funding for financial counselling services across Australia  

On 25 November 2020, Senator the Hon Anne Ruston, former Minister for Families and Social Services, released the Government response to the Countervailing Power: Review of the coordination and funding for financial counselling services across Australia (the Review). 

The Review was released on 3 October 2019. It made recommendations to ensure the long-term viability of the financial counselling sector, including the establishment of a nationally coordinated approach, and industry funding to strengthen the predictability and stability of funding for financial counselling. 

The Australian Government response to the Sylvan Review sets out its commitment to: 

• work with state and territory governments and relevant stakeholders on a national approach for the funding and coordination of financial counselling (also relevant to the specialist, RFCS and small business financial counselling sector)
• introduce an industry funding model following consultations with industry and the financial counselling sector to ensure predictability and stability of funding for generalist financial counselling services into the future
• support the establishment of an independent body to be responsible for the national cooperative financial counselling effort, including delivery of funding. 

The Government will continue to work closely with industry, the financial counselling sector, the states and territories, and other stakeholders. 

For further information on the Review, email FCR@dss.gov.au.