An expansion of good financial advice services is one of the measures Labour plans to take to build a more socially responsible money system, an MP has stated.

Speaking at the Northern Money Conference 2010 at the Contemporary Urban Centre in Liverpool on Monday (March 1st), Helen Goodman MP, parliamentary under secretary of state at the Department for Work and Pensions, said the Labour government is to publish a consultation document on reforming the social fund soon.

The document is to gauge views on the best course of action to reform the social fund, she explained.

Other measures are likely to include a strong credit fund and increased pressure on loan sharks, she added.

"I look forward to working with [the financial industry] to develop these proposals and build a society where security and inclusion are the experience of everyone," Ms Goodman said.

The Northern Money Conference 2010 was organised by the Association of British Credit Unions, the Research Unit for Financial Inclusion at Liverpool John Moores University and Citizens Advice.