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MAS in probe over bonuses and legal advice

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  • 19/12/2011
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MAS in probe over bonuses and legal advice
Shadow Treasury minister Chris Leslie has demanded details on the costs of the Money Advice Service (MAS) to the taxpayer.

In a 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.

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