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Our Approach
 Measuring
Progress
Vision and aims
The Steering Group has identified some clear aims for the national
strategy, supporting an overall vision of what they want to see achieved.
- We share a vision of better informed, educated and more confident
citizens, able to take greater responsibility for their financial
affairs and play a more active role in the market for financial services.
- Our aim is to give people the skills and knowledge they need to
make sensible decisions about their money, so they can take control
of their finances and demand better services from the industry.
- We will do it in a way that people will understand, at a time and
place when it's most useful to them.
- And we will do it in a way that recognises people's differing financial
circumstances.
Outcomes
Supporting this vision, the Steering Group has identified a range of
'outcomes', specifying the direction or trend they wish to encourage.
These start with what we, the partners in the strategy actually do.
At the other end of the scale are changes in behaviour that are outside
our direct control and might take place many years from now. Even then,
it will be difficult to demonstrate any direct link between what we
have done and the improvements that we see several years later.
Read more detailed information about Outcomes.
Measurements
Where possible, we should measure progress on each
of these outcomes. Sometimes it won’t be possible to measure the
outcome directly, but it should be possible to identify one or more
surrogate measures to tell us where we start from and how far we have
gone.
Many of these measures will need new research to establish where we
are now. This research (or parts of it) will need to be repeated in
the future to establish how much things have changed.
The FSA will carry out a comprehensive baseline survey to establish
the current state of financial capability in the UK. The survey will
be designed to allow each of the outcomes to be assessed now, and to
be re-assessed in the future to establish whether there have been any
changes. The survey will also inform evaluation of individual projects
within the strategy.
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