Recommendation 32

We asked if there were lessons particularly for the Department about promoting these products that have no FCA imprint. An employee on a low salary might decide to take some early advance and it is not actually a regulated product at all. There may be other less advantageous loan schemes, but they will have some regulation. The Department agreed that it was certainly worth noting that the National Audit Office reported that when trusts go into these schemes, it is very frequently to give their employees options that are not much more expensive loans. The Department told the Committee that there is expectation that NHS trusts, in considering these schemes take all information into account.33 32 Qq 158–159, 162; C&AG’s Report, para 3.14 33 Q 203 18 The pharmacy early payment and salary advance schemes in the NHS