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Money Advice Service calls for evidence to help form new five-year strategy

Money Advice Service

The Money Advice Service is calling for firms, individuals and charities to provide evidence of projects and initiatives that have successfully improved people’s finances to help form its new five-year strategy.

In the next 10 weeks, the MAS will hold a series of events across the UK to collect evidence as part of a major study into financial wellbeing in the UK.

Before the call for evidence closes on 26 July, the MAS will publish a survey into the financial literacy of the UK population that will track progress since a similar survey was last published by the FSA in 2006.

After the evidence has been collected MAS will draw up a draft strategy in collaboration with consumer groups, financial services firms, the UK and devolved Governments. 

A full consultation will be launched in autumn and a final strategy will be published in April 2014.

MAS chief executive Caroline Rookes says: “Today’s call for evidence signals the start of a major milestone for everyone with an interest in financial capability. Gathering a wide selection of views and insights will take us one step nearer understanding how we can best help people manage their money, and improve the UK’s financial wellbeing.

“The final strategy, which we’ll develop in collaboration with a wide range of partners across the UK, will help us take a major step forward to improve the financial health and wellbeing of the nation. It’s badly needed at a time of economic uncertainty and squeezed incomes.”

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Comments

There are 6 comments at the moment, we would love to hear your opinion too.

  1. Finally, an admission by MAS that it doesn’t have a clue what it’s doing! But I doubt this expensive exercise will change anything for the better.

    The sooner this overfed quango is shut down the better. Change of CEO appears to have made little difference.

  2. So what are we paying them for again?

  3. As a devolved government department they will want to grow and need the increased funding from the treasury and the regulators to do that. That means they need to spend money on self adulating reports to justify their existence infavour of a privatised industry.

  4. This Quango is a ridiculous waste of taxpayers money it’s clueless and not fit for purpose and if shut down tomorrow would be missed only by those whose bank accounts and pension pots it fills!

  5. Julian Stevens 17th May 2013 at 8:33 pm

    An unknown but quite possibly substantial proportion of the people who the MAS advises are those who would hitherto have gone to their local CAB and/or Debt Counselling offices, funded by local and central government. Of the remainder, pitifully few are referred to an IFA.

    So we’re forced to pay for something from which we derive virtually no benefit. If we refuse, the regulator will confiscate our livelihoods.

    Yet more evidence of a fundamental injustice that should be on the agenda of an Independent Regulatory Oversight Committee.

  6. RegulatorSaurusRex 21st May 2013 at 11:10 am

    MasSaurusRex

    Like a rat in a corner.

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