Oral Answers to Questions

Kevin Hollinrake Excerpts

Tuesday 6th November 2018 Commons Chamber

[Mr Hammond]

As I have told the House before, the 2016 pension changes were notified to Departments in 2016 in their settlement letters and have been factored into departmental calculations since then. The 2018 increases in public sector pension contributions will be covered in full by the Treasury in 2019-20 and then looked at in the round in the spending review.

[Kevin Hollinrake (Thirsk and Malton) (Con)]

16. I am grateful for the Chancellor’s recognition in his Budget speech of the work that the all-party parliamentary group on fair business banking has done on dispute resolution between banks and businesses. The Financial Conduct Authority’s report into that matter recommends“a role for both an extended ombudsman service and a tribunal, as they meet different needs.”Will my right hon. Friend give further consideration to the introduction of a tribunal?

[Mr Hammond]

The Financial Ombudsman Service can make judgments faster and at a lower cost than a tribunal, and the Government therefore think that that is a better way to go than the creation of a tribunal, but I am happy to meet my hon. Friend to discuss the matter in more detail.