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Monday, 21 March 2016 11:35

George Osborne Wasted £400 million on Money Advice Service

The hypocrisy shown by the very people who force rules and regulations knows no bounds and reinforces the grotesque chasm between rich and poor. We were dumbfounded that Mr Osborne's budget revealed The Money Advice Service (MAS), which provides financial and debt advice to consumers, is to be abolished. Can we just rewind…this from the very same government who placed levies on various financial services firms to fund MAS with the total cost sitting just shy of £400 million and enforced loan companies to clearly display prominent warnings that late repayment can cause you serious money problems and for help, go to MAS. Insulting and condescending to say the obvious! 

What will the poor do now without the golden advice that they should pay back their loans on time? Should we be bracing ourselves for a apocalyptic number of defaults swimming towards us now that the MAS has gone? Are the Samaritans about to see a record number of calls? People throwing themselves off Motorway bridges? Nope of course not, the MAS was the idea of a couple of posh kids that have lost all touch of reality. 

Boy George thought that people didn't realise that paying back their loan on time would save them money. He thought that if he could come up with a way of articulating this amazing new idea, the poor would be better off. 

The very same government that presides over the Financial Conduct Authority (FCA) who in equal measure in March 2015 backed the existence of MAS, saying they welcomed recommendations that MAS should make sure customers continue to receive high quality debt advice and Economic Secretary Andrea Leadsom quoted at the time “Making sure that customers have access to high-quality financial education and advice is a key part of our long term economic plan”. Just take a look here if you don’t believe us; it’s in plain black and white…remember, we’re not in the business of lying, unlike our government and regulators. 

Anyone who backed the insane idea of the MAS should hang their heads in shame. The idea was baffling, dreamt up by upper class twits who share the same views on the poor as the Frenchy who said "let them eat cake". Another £400 million wasted due to George but not to worry he can get that back by cutting the money he pays to the disabled. 

As the BBC's John Humphrys asked last week - what on earth does someone have to do round here to get the sack? We are just glad that people are now starting to see what we have been saying for years, this is a flawed character built in the vision of Gordon Brown. 

You'll soon be gone George, now take your price caps, your crippling zero hour contract educing living wage, your benefit cuts and pee off back and let us get back on with running our business. 

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