Govt rejects call to wind up Money Advice Service

In a written question put forward by Lord Naseby, the Treasury was asked whether, in light of the £46.3m budget for the service for 2012/13, and on top of other industry concerns, it would consider winding it up. Replying to the Conservative peer, 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 nationa...