Treasury

The Financial Services Authority (FSA) has admitted it had concerns about the way in which the industry was being asked to fund the Money Advice Service (MAS), although is hand was forced by the Treasury.

The government has confirmed its plans to force banks to ring-fence their retail operations, as well as other measures recommended by the Independent Commission on Banking (ICB).

The Treasury is under so much pressure it should consider getting funding directly from the financial services industry, former cabinet secretary Gus O'Donnell has said.

Adviser trade bodies AIFA and the IFA Centre have both criticised the Money Advice Service in a submission to the Treasury Select Committee.

FSCS FUNDING

Fifteen years after Gordon Brown gave the Bank of England its independence, Dan Conaghan examines how it has fared.

An inquiry into the "crucial issue" of corporate governance at Britain's top financial companies has been launched by the Treasury select committee.

CRUEL APRIL

Almost one in ten people earning over £10m per year pays less than the 20% basic rate of income tax, according to Treasury figures.

Financial secretary to the Treasury, Mark Hoban, was taken out for breakfasts, lunches and dinners 37 times in the 15 months to June 2011, official figures have revealed.