Tenet has pledged its support for Money Marketing’s campaign to improve saving and protection rates in the UK.
The Pave The Way To Save campaign is calling on the Government to give the new financial services regulator a statutory objective to tackle these problems.
The Treasury is currently consulting on the design and responsibilities of the FSA’s replacement, the Consumer Protection and Markets Association.
Tenet group distribution and development director Keith Richards says it is no coincidence that the savings gap has widened over the past few years as the financial services industry has contracted and it is imperative that the Government gives the new regulator the correct focus.
Richards says: “The regulator is often blamed but the real responsibility lies with the past Government and, to a lesser extent, the industry, for allowing this to happen. It is the industry and the Government’s role to provide the solution. Lobbying the Government is not only the right approach, it is also the only chance to reverse the trend and Tenet will be lending its full weight of support to this industry-led campaign.”