Check If You Qualify

Money Advice Service to be Shut Down

Sharon McDougall - 16th March 2016 - 2 minutes to read

The Money Advice Service (MAS), which was set up in 2010 to provide information and guidance for people around the UK on a full range of personal finance issues, is to be closed down by the government.

Chancellor George Osborne is to confirm the planned closure of the service in his Budget speech on March 16th, with MPs having described the MAS in recent years as being “not fit for purpose”.

A report on the performance of the MAS by MPs in Westminster, which was published in 2013, also claimed that senior staff at the organisation were receiving “excessive pay”.

One former MAS executive, Tom Hobman, was apparently being paid as much as £350,000 per year before he left the organisation in 2012.

The effectiveness of the MAS as a service designed to help individuals and households manage their finances and avoid perilous debt management scenarios has repeatedly been called into question since it was first created.

Critics have said that the service has struggled to gain enough recognition among the general public around the UK to justify the amounts of public money allocated to it on an annual basis.

Expectations are that Mr Osborne will announce plans to replace the MAS with a smaller operation that performs some of the same functions as the Money Advice Service but which cost far less money to operate.

“We will work with the government to fully consider the implications of this announcement,” a spokesperson for the MAS said ahead the chancellor’s Budget.

“In the meantime we will continue to fulfil our statutory role to help people make the most of their money.”

Some critics of the MAS have suggested that its services have been too heavily reliant on web-based information rather than face-to-face advice and one-to-one guidance in relation to financial problems and debt management issues.

Thankfully, there are other sources of advice and assistance available to anyone struggling with debts and creditor problems in the UK.

Scotland Debt Solutions has been providing compassionate expert advice and helping people get out of debt in all parts of Scotland since 1989. Call us directly to arrange a free consultation and to find out how we might be able to help you.

facebook colour icon twitter colour icon linkedin colour icon messenger colour icon whatsapp colour icon email colour icon
Sharon McDougall Square

Sharon McDougall


Other News

Debt Levels Soaring across Scotland, New Figures Show Debt Level Rising

Debt Levels Soaring across Scotland, New Figures Show

Levels of unsecured debt in Scotland increased dramatically during 2022 as the cost of living crisis took its toll on household finances.

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’ Financial Hardship

Nearly Half a Million Scots Facing ‘Profound Financial Hardship’

Close to half a million Scots are in a position of profound financial hardship, according to a new set of figures.

Scots with Disabilities Urged to Check Eligibility for New Benefits Scottish Man In Wheelchair

Scots with Disabilities Urged to Check Eligibility for New Benefits

Disabled people in Scotland are being urged by the government to check whether they might be eligible for benefits that could help make their life a little easier.


Why Choose Us

Usp Location

5 Offices in Scotland

National Coverage

Usp House

Ask us About

Home Visits

Usp Hand Heart

Helping Scots Get

Out of Debt Since 1989

Usp Handshake

We offer an

Instant Initial Consultation

Usp Palm Wallet

We'll Help You

Lower Monthly Payments

Usp Hand Heart


Out of Debt Since 1989

We'll give you a call

Our Scottish based team can help advise you on your debt problems.

Here at Scotland Debt Solutions we take your privacy seriously and will only use your personal information to contact you with regards to your enquiry. We will not use your information for marketing purposes. See our Privacy Policy.


Useful tools

Personalised Debt Report
Usp Planner

Personalised Debt Report

Our personalised debt report will help you better understand your financial position and see where your money is going.

Debt Report
Instant Scheduled Call & WhatsApp

Instant Scheduled Call & WhatsApp

Arrange a call with an expert advisor at a time to suit you or contact our team via WhatsApp for immediate help and advice.

Arrange Callback
Find a Local Office
Usp Signpost

Find a Local Office

We have five offices located across Scotland. Find your nearest one here.

Find an Office

Our Insolvency Practitioners are regulated by ICAS or the IPA and our firm is authorised and regulated by the Financial Conduct Authority

Fees and Information: There are fees associated with our services. These will be fully explained before entering into any of the personal debt solutions referred to on this website. Full details of our fees and how these are charged are fully explained to you prior to you committing to any particular service.

ICAS Insolvency Practitioners