Budget 2016: Money Advice Service to be scrapped

George Osborne is to announce he will replace the MAS with a much smaller body with a focus on providing 'frontline' services to those in financial difficulty - currently the focus of its debt advice arm - according to the FT. MAS was set up by the government in 2010 to provide consumers with "financial education and advice" but has since come under strong criticism over the execution of its role. MPs said in 2013 the service was "effectively duplicating" other services such as the Citizen Advice Bureau and Moneysavingexpert. A Treasury-commissioned review led by former National As...