Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, when his Department will publish the updated Green Finance Strategy.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government will publish an updated Green Finance Strategy setting out how the UK will go further on sustainable finance in the coming months.
The Government is committed to an ambitious programme of work on Green Finance as set out in its Greening Finance Roadmap in 2021.
To ensure that the Government’s approach is effective, a call for evidence for an update to the Green Finance Strategy was launched on 12 May and concluded on 22 June 2022. The Government is currently reviewing the responses it received.
We will also take into consideration the findings of the recently published Net Zero review conducted by Chris Skidmore when publishing the Strategy.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions he has had with G20 counterparts on the potential merits of cancelling some or all of Ghana’s international debts.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The UK welcomes Ghana’s request for a debt treatment under the G20 Common Framework for Debt Treatments beyond the Debt Service Suspension Initiative. We stand ready to deliver a debt treatment for Ghana under the Common Framework in a timely and efficient manner. We look forward to the swift formation of a creditor committee for Ghana which will discuss and agree the parameters of a debt treatment.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many of the Financial Ombudsman Service’s closed cases have been subject to (a)complaints to the Ombudsman’s Independent Assessor and (b) recommendations or were found to have errors by the Independent Assessor.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if his Department will make an assessment of the adequacy of the Financial Ombudsman Service’s appointment process for its Independent Assessor.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what assessment his Department has made of the adequacy of the Financial Ombudsman Service’s complaints procedure.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if he will make an assessment of the adequacy of the impartiality of the Financial Ombudsman Service.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if his Department will make an assessment of the impartiality of the Financial Ombudsman Service’s Independent Assessor.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, how many cases the Financial Ombudsman Service has (a) opened and (b) closed in the last year.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
As an independent body the Financial Ombudsman Service’s (FOS) is governed by the framework of duties set out in legislation by Parliament. It must act impartially within this framework and does not represent any vested interests. The FOS is neither a consumer champion nor an industry trade-body. An Independent Review in 2021, found that the FOS is widely respected and viewed as reaching fair and impartial outcomes in the majority of cases. The Government believes it is vitally important that the FOS should be accountable for its performance and the quality of its work and will continue to hold it to account.
In regards to the adequacy of the FOS’ complaints procedure, the Independent Review identified some key areas for change, including the need to improve digital capability and reduce case backlogs and made 22 recommendations to the FOS. In response, the FOS published its ‘Action Plan’ in 2021. The FOS publishes regular updates against this Action Plan which provides regular opportunities for scrutiny. In their latest update, published in May 2022, the FOS showed significant success in reducing its backlog of cases from 90,000 to just over 37,000. Reducing waiting times is a priority for the FOS in the next financial year.
The Independent Assessor is appointed by the FOS Board and provides an important opportunity for consumers to bring complaints about the FOS’ conduct or capability. The Independent Assessor is required to take an impartial approach and can make recommendations to the FOS about operational issues such as communication and timeliness. The Independent Assessor also provides important scrutiny of the FOS through their annual report which makes broader recommendations for the FOS about how it can improve its service: https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf
In the 2021/22 financial year the FOS received 165,263 complaints and resolved 218,740. Further details can be found in the Plans and Budget 2022-23 consultation: https://www.financial-ombudsman.org.uk/files/320493/plans-and-budget-consultation-2022-23.pdf
In the 2021/22 financial year the FOS received a total of 4,131 service complaints and 568 of these were escalated and investigated by the Independent Assessor. Of those, the FOS’ approach was found to be satisfactory in 35% of case, unsatisfactory in 20% of cases and unsatisfactory with recommendations and/or learning points in 45% of cases. Further details can be found in the Independent Assessor’s annual report : https://www.financial-ombudsman.org.uk/files/324005/Financial-Ombudsman-Service-The-Independent-Assessors-annual-report-2021-22.pdf.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether his Department held discussions with representatives of local government before setting a date of 2025 to begin the funding programme for home insulation announced in the 2022 Autumn Statement.
Answered by James Cartlidge - Minister of State (Ministry of Defence)
At the Autumn Statement, the Chancellor announced £6bn of additional funding for energy efficiency, covering the financial years 2025/26 to 2027/28.
This provides funding certainty to the sector ahead of the next Spending Review.
Almost £3bn is already allocated for Financial Years 2023/24 and 2024/25 on energy efficiency, the majority of which will go to Local Authorities. In addition to this, the government is expanding the Energy Company Obligation by £1 billion over the next three years, from April 2023.
Asked by: Alexander Stafford (Conservative - Rother Valley)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether he has made an assessment of the implications for his Department's policies of the report on the UK Green Taxonomy published by the APPG on Environmental, Social, and Governance.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
The Government is clear that the value of a taxonomy rests on its credibility as a practical and useful tool for investors, companies, consumers and regulators in supporting access to sustainable finance.
The government has been engaging closely with the independent Green Technical Advisory Group and is considering the recommendations which they have recently published. The government has noted the publication of the UK Green Taxonomy report, by the APPG on Environmental, Social, and Governance, and will consider the views of a variety of stakeholders as it prepares to set out its next steps.