Gift Vouchers

Lord Harris of Haringey Excerpts

Wednesday 22nd January 2020 Lords Chamber

[Lord Duncan of Springbank]

The noble Lord clearly has kind friends who give him Greggs vouchers and Waterstones vouchers: food for the heart and for the mind. At present, some £300 million in gift vouchers per year is unclaimed out of a £6 billion retail offering. Quite often they are lost—they have not been redeemed because they have simply been misplaced. I do not have the figures, and I do not believe the figures have been gathered, on those who come from low-income families, but I recognise that this is still 5% of the overall market, which is way too high. We need to find a way to ensure that the value of these products is not lost, particularly when low-income households are affected.

[Lord Harris of Haringey (Lab)]

My Lords, I refer to my interests in the register. Has the Minister considered the position when vouchers are purchased in good faith from organisations that promise experiences of various sorts, but when the recipients of those vouchers try to redeem them they find there are specific circumstances in which the experience has to take place, be it skydiving—not something that I personally wish to indulge in, in consideration of the security of everyone below—or whatever bizarre thing people might wish to do? Has the Minister considered whether there should be some expectation on those selling these vouchers that they are genuinely redeemable?

[Lord Duncan of Springbank]

Part of the problem with the experience voucher is that it is often specific and limited within a given season or period. I suspect that skydiving is more limited to the summer months so, should noble Lords wish to experience that, their time is yet to come. I recognise that the experiences need to be much more transparent to ensure that those vouchers can be redeemed within the allotted time and those experiences are fully enjoyed—even for those underneath the skydivers.