Money Advice Service chief executive Caroline Rookes says there is “no question” the service will cease to exist as a result of the Treasury’s independent inquiry.
On Friday the Treasury revealed the terms for the review which will be led by Christine Farnish and will assess the effectiveness of MAS and recommend any changes it sees as necessary.
Speaking to Money Marketing before the terms were published and before Tyrie this morning called for them to be “clarified” so they include the service’s statutory footing, Rookes said: “I do not think it will be a stay of execution.
“I do not think there is any question that we will cease to exist. The review will confirm the importance of the role we have and the progress we have made in delivering against it.”
The independent review was announced after the Treasury select committee report into the future of the service criticised Treasury plans for an internal review.
This morning, Treasury select committee chair Andrew Tyrie said the terms of the independent inquiry “omit” several important issues, including whether the MAS should remain on a statutory footing.