Select Committee on Treasury Minutes of Evidence

Further memorandum submitted by the Financial Services Consumer Panel

  During the hearing, attention was drawn to a discrepancy between the expenditure figure of £517,000 quoted in the text at the top of page seven of the Consumer Panel's 2000 annual report and the figue of £539,000, quoted in Table 1.1. The figure of £517,000 quoted in the text is incorrect; the figures quoted in Table 1.1 are correct.

  Below is a more detailed breakdown of the Panel's expenditure figures for 2000.
2000 Budget 2000 Actual
(£000) (£000)
Panel Members Fees and Expenses (Contractual) 188
Fees 132
Expenses (mostly costs of travel to and from meetings and, where necessary, hotel accommodation. Also incidentals such as phone calls and faxes)
FSA Staff[9] 136136
Time spent by FSA staff on panel work
Professional Fees230
Fees for research commissioned on: 210
Direct Selling
Annual survey - financial decision-making
FSA Effectiveness
Endowment Reprojection Survey
Other professional fees: 37
Annual Report work
Recruitment of media specialist
Media consultancy costs
Other consultancy costs (eg Panel training)
Other23 10
Costs of non-FSA meeting venues and facilities
Annual Survey launch
Catering (FSA & external)
Total577 539

28 February 2002

9   Four full-time equivalent staff. Back

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