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Government will scrap radio wealth warnings

The Government is to scrap wealth warnings on television, radio and cinema


mortgage advertising.


The move was announced in the Consumer White Paper, Modern Markets:


Confident Consumers, published by Trade and Industry Secretary Stephen


Byers. The change follows extensive lobbying by the commercial radio


industry.


The warning, “Your home is at risk if you fail to keep up with your


mortgage payments” has been the bane of radio advertisers, as it can add 15


seconds to a 30-second ad.


The Radio Advertising Bureau, the marketing body for UK commercial radio,


which led the campaign, welcomes the move and is now lobbying for the


warnings on investments to be dropped.


It believes the warnings simply did not work and confused rather than


assisted the consumer.


RAB company secretary Geoffrey Russell says: “This is the first domino


down. We are very pleased because we have proved to the Government the


warnings do not work.”


Ad agency DMB&B Financial chief executive Andrew Porter says: “We are


especially pleased for radio as the warnings often add 15 seconds of mumbo


jumbo to a mortgage ad.”

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