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OFT 'Save Xmas' campaign comes to North West

138/07    27 September 2007

The OFT is launching the North West part of its Save Xmas work on Friday 28 September to help people choose the best way to afford Christmas and avoid getting into debt. The campaign follows the collapse of the Farepak hamper company last year in which 11,000 people in the North West lost their Christmas savings.

The OFT was asked to carry out an awareness programme to help consumers understand their options when saving for Christmas (and other short term saving) by HM Treasury earlier this year. The scheme in the North West involves the OFT working with community groups and partners by helping them to explain the options that are available. Community groups from Lancashire, Cumbria, Merseyside, Manchester, Blackburn, Bolton and surrounding areas are being invited to help their members and consumers better understand the range of Christmas and other short-term savings schemes. The OFT has produced materials including a leaflet, a short film, presentations, research findings and background information.

Download the Save Xmas leaflet (pf 199 kb).

Groups which are supporting the campaign include Trading Standards, the North West Lancashire Learning Partnership and North West regional Citizens Advice centres.

Sue Cook, Head of Consumer and Business Education at the OFT, said:

'This campaign is not about telling people what they can and can't do with their money. What is important is that people who want to save for Christmas can do so, knowing what their options are and what risks are involved. Thousands of people in the North West lost money after Farepak collapsed and we want to work with communities to help people to get lasting knowledge and skills about short term saving for Christmas or anything else.'

Councillor Chris Cheetham, Cabinet Member for Adult and Community Services, Lancashire County Council, said:

'Last year some families in Lancashire lost thousands of pounds in the collapse of Farepak. We want to make sure that people can have an enjoyable Christmas without worrying about getting into debt. There are many safe options to save for Christmas. The County Council has been working to help credit unions, only one of the ways to plan for Christmas. What matters is that people choose a method of paying for Christmas that leaves them in control and their money safe.'

NOTES

1. The 'Save Xmas' campaign will include working with community groups and partners across the UK to develop consumer education resources for organisations to use with consumers in their local areas. Consumer education is a key element of the campaign, which in the long term aims to equip consumers with the skills to: analyse the options available to them, make comparisons between different choices, make balanced judgements, assess levels of risk, research relevant information to make the best choice for them.

2. The UK campaign was launched on 1 June 2007 in response to the Farepak collapse last year - see press release 79/07.

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