You are here: Home - Investing -

MAS contact numbers up 8% to 700,000

0
Written by:
01/11/2012
More than 700,000 people contacted the Money Advice Service (MAS) in the last six months, an increase of 8% compared to last year.

The service’s half-year results showed 88% of people would use the MAS again and 81% said it provided them with the information they needed. Some 69% said the service helped them decide on a course of action.

Four out of ten people using the service received an action plan – 283,000 action plans so far, against an ambitious target of one million by March 2013.

Gerard Lemos, MAS chairman, said: “The service is making steady progress in tackling the country’s enormous advice gap.

“The long-term goal to make being good with money the norm remains. So we will continue to work hard towards our ambitious targets and develop the Service to make sure it is in tune with people’s needs, provides action-oriented and sustained help and becomes better known for all life’s money matters.”

This comes as the government was called to wind-up MAS, as the  industry-funded operations was attracting growing discontent within Westminster.

The government has rejected the calls.

Lord Sassoon, the commercial secretary to the Treasury, said: “The service has an important responsibility to develop consumer financial education, raise public understanding and knowledge of financial matters and the ability of people to manage their own financial affairs.

“It offers impartial information and advice on money matters nationally and is available to all online, by telephone and face-to-face. The government are, therefore, not considering winding up the service.”

Tag Box

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Five ways to get on the property ladder without the Bank of Mum and Dad

A report suggests the Bank of Mum and Dad is running low on funds. Fortunately, there are other options for st...

The essential Your Money guide to the April 2018 tax changes

As we head into the 2018/19 tax year, a number of key changes take place to existing policies while some new i...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week

Read previous post:
Get online tax returns in to avoid penalty

The HMRC is urging people to start sending in their 2011/2012 tax returns online as the deadline for the paper...

Close