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MAS seeks to improve UK’s financial health

MAS seeks to improve UK’s financial health

Category: Money

Updated: 17/05/2013
First Published: 17/05/2013

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Charities, individuals and consumer groups are to be quizzed by the Money Advice Service (MAS) over the next ten weeks and asked to provide evidence of successful financial initiatives and schemes.

The independent Government organisation, set up to provide advice on money issues to consumers, aims to gather enough evidence from the study to set up a new five-year strategy to boost the UK's financial wellbeing.

It is hoped that the views and opinions of consumers and various groups will provide clear principles and direction to the MAS to form their strategy on how the nation can make the most of its money.

A report into levels of financial awareness amongst consumers is also expected to be published by the MAS over the next few weeks to accompany the study.

Caroline Rookes, CEO of the Money Advice Service, said: "Gathering a wide a 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," she added.

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