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Personal finance pack sent to MPs

Britain's MPs have been sent a pack containing basic information on personal finances by a banking body.

The British Bankers' Association (BBA) sent out the guides in order to help MPs better answer constituents' questions about money.

In the wake of the credit crunch, many are struggling with personal debt, rising bills and home loans repayments.

The project has the backing of parliamentarians, with members of the All-Party Group on Debt and Personal Finance and the All-Party Group on Insurance and Financial Services writing the forward to the guide.

One of the chairs, Mark Lazarowicz MP, commented: "Competition gives consumers an opportunity to select appropriate products - but it is very important to ensure that they understand how these work and where to go if they need help.

"We hope this guide will help consumers make the right financial choices to enable them to plan for and protect their futures."

The BBA pack contains information on 25 different subjects, the association said.

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