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MPs ask what is the point of MAS?

MPs have launched a stinging attack on the Money Advice Service, accusing it of “scrambling around” for a purpose to justify its budget and losing its direction.

During the committee’s first evidence session for its inquiry into the service last week, Labour MP George Mudie attacked the MAS for lacking a purpose at a time when Government policies are about to have a “horrifying” effect on people’s finances and questioned what its role is.

Mudie said: “Does anyone know what its agreed role actually is? It has been set up with this money and it seems to me it is scrambling around to find a role at a very sensitive time.”

Conservative sub-committee member Mark Garnier said: “It is an organisation that has lost its direction, no one knows what the point of it is.”

Consumer Credit Counselling Service head of external affairs Delroy Corinaldi said: “There is some clarification needed over the role of the MAS. Is it there to provide services, be a regulator or work in coordination with other bodies?”


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Broadstone and SEI in platform tie-up

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US financial planner banned over £65m funds scheme

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