This week, the Government set out £6bn worth of cuts, slashing £836m from the budget of the Department for Business, Innovation and Skills.
FSSC chief executive Liz Field says: “It is purely up to the BIS to decide how they are going to make their cuts, so we will wait and see what the implications of that are. From our viewpoint, sector skills councils can help to simplify the skills system and therefore reduce spend.
“With other sector skills councils, we are lobbying the Government on this point.”
Reports this week suggest that the Qualifications and Curriculum Development Agency may be scrapped as part of the Government’s drive to save £600m on quangos.
But Field says this will have no impact on the QCF level four qualification for advisers.
She says: “QCDA does not have anything to do with RDR qualifications. It is Ofqual that will approve qualifications.
“It is business as usual. Financial services is one of the top sectors that is seen as important for economic growth. Things look very positive from our view.”