In the 2020-21 Budget, the Australian Treasury became responsible for financial capability policy and coordination. The Government has provided Treasury with $7.1 million over four years to lead a refocused national approach to financial capability and drive significant improvement in Australia’s financial capability across all life stages.
With a third of Australian households financially impacted by COVID-19, there has never been a more important time for individuals to have the skills, knowledge and support infrastructure to manage their finances well.
The Government is committed to lifting Australia’s financial capability as a key part of Australia’s economic recovery from the Coronavirus pandemic. This will empower Australians to make the most of their financial resources, enhance consumer confidence, and provide appropriate support to those in difficult circumstances.