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MPs to grill Hoban on Money Advice Service

  • 02/09/2012
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MPs to grill Hoban on Money Advice Service
MPs on the Treasury Select Committee (TSC) will question financial secretary Mark Hoban on the Money Advice Service (MAS) later this week.

A TSC sub-committee has been taking written and oral evidence on the future of the MAS since June, focusing on its effectiveness, funding and accountability.

In its final session on Wednesday, the MPs will take evidence from Hoban, as well as Citizens Advice chief executive Gillian Guy.

Hoban has previously described himself as a “great supporter” of the MAS.

The service has come under attack from both MPs and witnesses during the evidence sessions so far, with Labour MP George Mudie describing it as a “playground bully” for its disruptive influence on the industry.

Meanwhile, Money Saving Expert founder Martin Lewis branded the MAS as a “narcissistic brand-building exercise”.

Chief executive Tony Hobman announced his resignation from the organisation soon after giving evidence himself, when he was forced to defend his £350,000 remuneration package.

Minutes of the Financial Services Authority’s June board meeting revealed the regulator itself was dissatisfied with the accountability arrangements at the MAS.

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