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Consumer Council Welcomes Executive Action

Monday 21 July 2008

The Consumer Council has welcomed the move by the Office of the First and deputy First Minister to bring together local financial institutions to tackle the serious issues facing Northern Ireland (NI) consumers in the wake of the consumer crunch.

Julie Megrath Head of Money Affairs at the Consumer Council said, “As the consumer crunch continues to tighten its grip on consumers’ pockets, it is very encouraging to see the Executive taking action by bringing the banks and building societies together to discuss what can be done to help the large number of people who are finding themselves in financial difficulty.

“The current climate of spiraling costs of food, fuel, energy and mortgages is not just affecting vulnerable consumers but all consumers throughout NI.  With many people struggling to make ends meet it is clear that urgent measures are needed to help people cope.  We are pleased to see the commitment from the financial institutions to working with the Executive to find a way to protect consumers and assist them through these turbulent times.  

“The Consumer Council is also firmly focused on this issue through our leadership of the Financial Capability Partnership [i].  Members of the Partnership are working in local schools, colleges, workplaces and with the wider community to ensure people of all ages have the information, knowledge and skills to make the most of their money and learn the importance of planning ahead.   The Consumer Council will continue to work with stakeholders including the Assembly to do all we can to help consumers at this most difficult time.” 

  1. Consumer Council media contact: Paula Gunn, telephone, 028 9067 4816 or e-mail, pgunn@consumercouncil.org.uk.  
  2. The Consumer Council is an independent consumer organisation, working to bring about change to benefit Northern Ireland’s consumers. The Council campaigns for high standards of service and protection and a fair deal for all. It also carries out research, gives advice and publishes reports and other publications. It deals with individual complaints about buses, trains, planes, ferries, natural gas, electricity, coal and water.
  3. For more information, visit our website at www.consumercouncil.org.uk


[i] The Financial Capability Partnership was set up in 2006.  It brings together local government, banks, building societies, credit unions, community and voluntary organisations, the education sector and others to ensure that there is a strategic and co-ordinated effort to help consumers get to grips with managing their money well.  

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