Categories: Better Business
Topics: Money Advice Service| Mark Hoban
Shadow Treasury minister Chris Leslie has demanded details on the costs of the Money Advice Service (MAS) to the taxpayer.
In written question to financial secretary to the Treasury Mark Hoban, Leslie asked the minister to reveal the cost of legal advice regarding MAS' latest restructure in which 60 jobs were cut.
He also asked how much had been spent on bonus payments and foreign travel for senior management at MAS in the past year, after it emerged the chief executive of the body earns £250,000 annually.
Leslie demanded to know how many people have used MAS' financial health check and how many face-to-face meetings and telephone enquiries MAS aims to deliver in the next three years.
Hoban said some of the questions would be answered in MAS' business plan and budget, which will be published in March 2012.
He added MAS itself will respond to Leslie in writing to answer the rest of the questions.
In September this year, the Advertising Standards Authority (ASA) rejected a number of complaints from a group of 71 advisers over the language used to advertise the MAS.
Advisers claimed the use of the terms "independent" and "advice" to describe MAS' service was inaccurate and misleading.
| Share | |
| Comment | MAS to reveal spend on bonuses and legal advice |
More better business news
Email alerts
Recommended reading
Categories
Topics
Comments
Its a Disgrace
The presenters, who delivered the seminars on behalf of MAS, have been treated with complete contempt. Most of these presenters were IFA’s who gave up their time for FREE to make this thing work; MAS couldn’t even see fit to pay travelling expenses. Its a disgrace for the people at the top of MAS now to take bonuses when the people who made this work are were not paid a penny and even worse the MAS staff on the ground that worked so hard to deliver the programmes are now being made redundant. You should be ashamed of yourselves – see how long the MAS will continue now without the people that really made it work. But no doubt when the service fails in a year or so, you will leave for another quango with your huge failure bonus paid for from the public purse.
Posted by: Dr D
MAS and bonuses
I totally agree, I have done about 4 presentations on behalf of the MAS, I have never been paid for my travel time, my parking meter costs, nor anything for the presentations. I was happy to give something back to the industry I have been in for 25 years but not the MAS bigwigs. They wouldnt give up their free ice in winter!!
Posted by: Gary Plein
SANT-SA's LITTLE HELPER
Mark ‘Mc’Hoban has told Mr.Leslie that he will need to wait for answers to some of his questions until March 2012 when the MAS’s business plan and budget will be published. What he means is that he either doesn’t know how much money has been wasted (sorry, spent..) so far, or he does, but is playing for time. You may as well spill the beans now McHoban, because by March there’ll have been even more taxpayers money wasted. You know it, but you just can’t bring yourself to admit it…and even less balls to say it. Anyway, I’ve had a gutful of Hoban this year, AKA SANT-SA’S LITTLE HELPER. Incidentally, did you know that an anagram of MARK HOBAN is HECTOR’S BROWN-NOSER? (It isn’t actually; it just made me feel better) Anyway, £250kpa for the Chief Exec of the MAS?. It’s Christmas every day at the MAS!
Posted by: Keith Jayne
SANT-SA's LITTLE HELPER
Mark ‘Mc’Hoban has told Mr.Leslie that he will need to wait for answers to some of his questions until March 2012 when the MAS’s business plan and budget will be published. What he means is that he either doesn’t know how much money has been wasted (sorry, spent..) so far, or he does, but is playing for time. You may as well spill the beans now McHoban, because by March there’ll have been even more taxpayers money wasted. You know it, but you just can’t bring yourself to admit it…and even less balls to say it. Anyway, I’ve had a gutful of Hoban this year, AKA SANT-SA’S LITTLE HELPER. Incidentally, did you know that an anagram of MARK HOBAN is HECTOR’S BROWN-NOSER? (It isn’t actually; it just made me feel better) Anyway, £250kpa for the Chief Exec of the MAS?. It’s Christmas every day at the MAS!
Posted by: Keith Jayne
MAS to Reveal. Sorry Try to Conceal!
Hoban is impervious to criticism. He is in the pay of the banks and insurance companies, as is his party, and as long as he can protect the jobs and work of the cliques he is a member of he will continue doing so. As far as he is concerned IFas should only be allowed to earn what McDonalds workers do but it is OK for him, other politicians and quango folk to earn £250,000 p.a. plus £100,000 in benefits and more for doing very little. The MAS could be set up, organised and run by a few teachers with some IFA input for a fraction of the money they are given.
Posted by: John Smyth
A plea from the heart.
Please no more stories about the MAS – they’re making me ill. What’s the point of telling us about something we have absolutely no power to change – yes I know that covers a huge amount of ground – from the FSA to the numpties in Westminster (all of them). But the MAS is such a flagrant abuse and colossal waste of money. On a time/cost/ effectiveness basis it has to be up there with the NHS computer – even that was a reasonably good idea even if the couldn’t get it to work. MAS can’t even claim that!
Posted by: Harry Katz
Related articles
Most Read
This year we have 14 awards designed to mark out the very best products in a highly competitive and innovative market. This includes three new awards for 2011 to reflect the developments in this rapidly growing market: Best Dual/Multi-Index Product, Best Structured (Oeic) Fund and Best Structured Product Provider.
Events
Poll
|
|
Job search
Ifaonlinejobs will open the right investment career path for you. Search hundreds of vacancies on www.ifaonlinejobs.co.uk now
In Focus
Viewpoints
About 2.66 million people are looking to increase the amount of money...
Bonuses
How can an organisation who only have been operating for 6 months deem it has been successful enough to earn bonuses. The only thing I can see they have done is alienate the Independant Advise Sector.
Posted by: terry