Financial Services Reform
Debate between Julian Lewis and Emma Reynolds(1 week, 5 days ago)
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Sir Julian Lewis (New Forest East) (Con)
Whenever I listen to the excellent Times Radio and other commercial broadcasters, I am always favourably impressed by the fact that at the end of every positive advertisement for a financial product, three words are said: “capital at risk”. Can the Minister assure the House that in the review of risk warnings that will be undertaken, that fundamental red flag, at the end of people pushing us to invest our money in some grand and profitable enterprise, will not be left out?
Emma Reynolds
I can reassure the right hon. Gentleman that we are not suggesting getting rid of risk warnings. I think that is what he was asking me most directly. One of the investment platforms did some research into the wording of risk warnings, and he will probably know that there is quite a gender gap. If we look at the figures from the Financial Conduct Authority’s financial lives survey, we see that more men have the confidence to invest than women, for example. There are other demographic factors, too. We want to give people the option and the confidence to invest, but of course there will always be risk warnings. However, there is also a risk if someone holds all their savings in cash over the long term, due to inflation.
Oral Answers to Questions
Debate between Julian Lewis and Emma Reynolds(9 months, 3 weeks ago)
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Sir Julian Lewis (New Forest East) (Con)
In response to several hon. Members, Ministers have spoken about the complexity of the ombudsman’s report on the WASPI campaign. While appreciating that, may I ask for a statement in principle that the Government will eventually offer significant compensation to the WASPI women?
Emma Reynolds
As I said previously, the ombudsman took six years to consider this complex case. We are looking into it very seriously, but I cannot make any announcements today. The right hon. Gentleman will have to wait for our announcement on this issue.