The creation of a financial education body aimed at debtors – as set out in yesterday’s Queen’s Speech and which will be included in the upcoming Financial Services Bill – has been welcomed by the Association of Investment Companies (AIC), which has lobbied for such an agency for five years.
Acting director general of the AIC Ian Sayers remarked that the body has always maintained that “bold action” is necessary if “an effective, real and lasting financial capability programme in the UK” is to be delivered.
He went on to say that the AIC is “delighted” to see the government moving towards this but hopes it will be an agency “independent, both from a governance and financial perspective”.
Also mentioned in the speech was the government’s priority to actively create jobs, strengthen the national infrastructure and revise the financial industry in order to foster growth and employment, as well as improve key public services.
By Sarah Adie