Making Saving Simpler

In order to explore ways to strengthen the power of the public, the Carnegie UK Trust set up a Commission of Inquiry into the future of Civil Society.

One of the major policies to spring out of it was a simple labelling measure, aimed at making financial products easier to understand. Confused.com enlisted Geoff Mulgan, chair of the commission, to tell us more...

“For years, we’ve become accustomed to seeing labels on food products clearly explaining their content and how they have been produced. Similarly, when we buy clothes, labelling means you know exactly where the product was made and what it is made of. But why is it that when you go and choose which mortgage to take or which pension to invest your money, or even who to bank with, there is no such thing as financial labelling?”