Asked by: Brian Leishman (Independent - Alloa and Grangemouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will have discussions with the Financial Conduct Authority to ensure that (a) Vulnerability Assessments and (b) a Consumer Duty Review are conducted before the withdrawal of the Family Protection Plan by C Mutual and Maiden Life Försäkrings.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
It is for the FCA as the regulator of financial services to decide whether to take any steps in relation to this issue and I can confirm that HMT has asked the FCA to look into this matter. The FCA will respond directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Brian Leishman (Independent - Alloa and Grangemouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will liaise with the Financial Conduct Authority to prevent the removal of the Family Protection Plan by C Mutual and Maiden Life Försäkrings until policy holders have secured alternative provision.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
It is for the FCA as the regulator of financial services to decide whether to take any steps in relation to this issue and I can confirm that HMT has asked the FCA to look into this matter. The FCA will respond directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Brian Leishman (Independent - Alloa and Grangemouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will review the conduct of C Mutual Ltd and Maiden Life Försäkrings in the context of the removal of the Family Protection Plan.
Answered by Lucy Rigby - Economic Secretary (HM Treasury)
It is for the FCA as the regulator of financial services to decide whether to take any steps in relation to this issue and I can confirm that HMT has asked the FCA to look into this matter. The FCA will respond directly to the Honourable Member by letter. A copy of the letter will be placed in the Library of the House.
Asked by: Brian Leishman (Independent - Alloa and Grangemouth)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, with reference to the policy paper entitled Capital Gains Tax—rates of tax, published by HMRC on 6 November 2024, if she will publish a breakdown of the £600,000 required to make changes to IT systems.
Answered by James Murray - Chief Secretary to the Treasury
HMRC do not provide detailed costs related to policy changes. The costs given represent a high level cost estimate for the changes required to HMRC IT systems to deliver this policy change which follow a recognised standard methodology.