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more governmental opacity October 20, 2011

Posted by Bradley in : consultation , trackback

Announcing a new steering group which is to develop a suite of ‘simple’ financial products, the UK Treasury published a summary document describing responses to its simple financial products consultation. Here’s what the document says about its presentation of responses:

The Government received 75 responses to the consultation from a wide range of organisations and individuals … In addition, three workshops were held with representatives from consumer groups, banks, building societies, insurers, cooperatives, think tanks, regulators, and independent commentators, to discuss the issues in depth. This document summarises formal responses to the consultation but does not seek to capture all of the points raised through the informal process, which, in addition to workshops, included numerous bilateral discussions and participation by officials in seminars and conferences. These events and discussions have assisted in the interpretation of formal responses and in formulating next steps for the simple products development process… While a number of themes emerged, there was no strong consensus among representatives of particular industries or sectors; nor were there clear consistent views from consumer groups and trade associations. Responses are therefore reported at a general level to avoid mischaracterising the response of any one sector or group of stakeholders.

To avoid mischaracterising responses or to avoid being seen to be mischaracterising responses?

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