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OFT aims for confident consumers with launch of new consumer education strategy

182/04     8 November 2004

A better coordinated approach to consumer education in the UK has been published by the OFT.

Download Consumer education: A strategy and framework (pdf 40 kb)

The consumer education strategy provides a framework for the 600 plus organisations involved in providing consumer education in the UK. It aims to prevent duplication of effort and target those most in need, rather than those easiest to reach.

The strategy creates an alliance of public, private and voluntary sector stakeholders to work with the development and delivery of a planned, targeted and high-quality consumer education programme across the UK. A strategic planning group (see note 2) will identify the skills and knowledge consumers need for particular markets, and set priorities. Smaller working groups will focus on particular programmes to deliver the objectives of the planning group.

Through the new strategy, the OFT aims to increase the confidence of consumers by providing them with the skills they need to analyse information effectively, manage resources, and assess risk when buying goods and services. Over 40 per cent of consumers do not feel informed about their statutory rights.

Penny Boys, OFT Executive Director, said:

'This strategy puts in place a framework that should help to deliver an effective consumer education programme. It will target those that can benefit most, including vulnerable and socially excluded groups and will enable them to develop the skills they need. Confident, well-informed consumers get the most from today's complex markets.  This in turn drives competition and encourages innovation.'

NOTES

1. The Enterprise Act 2002 gave the OFT new powers to use consumer education to support its work in making markets work well for consumers. The OFT set up a consumer education strategy group in October 2003 as a first step in developing its strategy. The OFT's 'Consumer Education: A strategy and framework' is available from the publications page of the website. Publication follows a consultation process with stakeholders. See press release 113/04 for further details. Download Consumer education: response to the consultation (pdf 39 kb)

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