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OFT 'Save Xmas' campaign comes to North East

150/07    1 November 2007

The OFT is launching the Save Xmas campaign in the North East this Friday 2 November. The campaign was launched following the collapse of the Farepak hamper company last year when 11,000 people in the North East lost their Christmas savings.
 
The OFT was asked by HM Treasury to carry out an awareness programme to help consumers understand their options when saving for Christmas earlier this year. The scheme in the North East involves the OFT working with community groups and consumer organisations. It involves running sessions for groups of people helping them to understand their options for Christmas saving and choose what's best for them.

The OFT has produced a toolkit including a leaflet, a short film, presentations, research findings and background information that form the basis of the 20 minute training sessions.

Download the Save Xmas leaflet (pf 199 kb).

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

'This campaign will enable people with the tools they need to make choices that best suit their needs when saving for Christmas. Thousands of people in the North East 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. '

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, and 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.

3. Community groups from Northumberland, Tyne and Wear, Newcastle, Gateshead, Sunderland, Durham, Sedgfield, Redcar and Cleveland, Hartlepool, Stockton, Middlesborough and surrounding areas are being invited to assist with the campaign by running sessions about the options Christmas and other short-term savings schemes.

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