Financial implications of the Act Single Financial Guidance Body
The creation of the single financial guidance body will have a negligible impact on public expenditure. The transition between three services to the single financial guidance body will create short-term costs, which are provisionally anticipated to total £4.49m, excluding costs arising from digital transition and from redundancy, which have not been estimated.
	Subject to legislative changes, these transitional costs will be met by the financial services and general levies which currently fund the existing services.
	The financial implications of cold-calling and the debt respite scheme are not yet known. Impact assessments will be written and published on the Act’s website in due course.