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Fscs Consumer Awareness Campaign

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On January 14th 2013 FSCS is launching phase 2 of its Consumer Awareness Campaign.

Our objective is to reassure savers that their deposits are protected. Over a 15 month period the messaging will focus on savings and deposit protection. The programme will then move onto other product areas. Protection is the key message.

We are spending about £3m on media for phase two of our Awareness Campaign over a period of 15 months from January 2013 until March 2014.

http://www.fscs.org.uk/industry/consumer-awareness-toolkit/questions-for-firms/7-consumer-awareness-campaig-ahq2p341k/

I heard one of these campaign messages on the radio the other day, it is hard to understand just what the point of it is.

Are they worried that too many people aren't saving anything any more?

Are they worried that low bank rates are turning increasing numbers of savers towards peer to peer services like Zopa?

What is "safer", lose 3% of your money every year for a decade, or run the small risk of losing it all if the peer-to-peer provider fails?

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http://www.fscs.org.uk/industry/consumer-awareness-toolkit/questions-for-firms/7-consumer-awareness-campaig-ahq2p341k/

What is "safer", lose 3% of your money every year for a decade, or run the small risk of losing it all if the peer-to-peer provider fails?

That is clearly the core question. But you do not need to use speech marks -it is a straight forward question.

You could even consider the differential to be the cost of insuring your money.

The other difference is that it is harder to get your money back during the term of a fixed peer to peer lender.

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Government department/QUANGO trying to blow its budget so it can ask for the same again, or more, next financial year. If they underspend the fear is their budget will be cut. I was once invited to a very expensive "we spent our budget" party in late March rolleyes.gif.

Edited by mikthe20

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They want more savings to thieve. Yesterday the telegraph and express both had front page headline articles about future interest rate rises.

http://

www.telegraph.co.uk/finance/bank-of-england/10691297/Interest-rates-could-rise-sixfold-in-three-years.html

Interest rates will rise six-fold by 2017 as Britain’s economy becomes one of the fastest growing in the developed world, the Bank of England Governor said on Tuesday.

http://

www.express.co.uk/news/uk/464372/How-700-000-people-a-year-lose-1bn-of-retirement-income

Bigger pension payouts for all: Rip-off annuity rates to be axed

(despite the dramatic headline the express article was incredibly old hat about shopping around for the best annuity)

Mind you in February Con Carney said:

11:08PM GMT 11 Feb 2014

http://

www.telegraph.co.uk/finance/bank-of-england/10632359/Mark-Carney-to-warn-economy-is-not-strong-enough-to-support-interest-rate-rise.html

Mark Carney to warn economy is not strong enough to support interest rate rise

So it was a different version of the Eeeny Meeny Miny Mo Forward Guidance in February - and elections are getting closer.

Edited by billybong

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