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