Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what the (a) scope and (b) remit is of the Treasury review into Financial Ombudsman Service.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The Treasury will examine whether the Financial Ombudsman Service (FOS), is delivering its role as a simple, impartial dispute resolution service which quickly and effectively deals with complaints against financial services firms, and which works in concert with our Financial Conduct Authority which regulates the sector.
The review will focus, in particular, on a range of points that have been raised through the recent Call for Evidence on the Growth and Competitiveness Strategy. This will include addressing concerns around:
The review builds on the announcements the Chancellor made at Mansion House, as well as modernising the FCA’s rules for dispute resolution. As part of the review, the government will consider whether any legislative changes are necessary to ensure that we have a dispute resolution system in the UK which is fit for a modern economy.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent progress her Department has made on the development of digital gilts; and what assessment she has made on their potential impact on the UK financial system.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
On 18 March 2025, the Chancellor of the Exchequer launched the procurement process for the pilot Digital Gilt Instrument (DIGIT) issuance.
Following the announcement, HMT and UK Debt Management Office published the first step in the process, which seeks views from industry to inform the development and delivery of the pilot DIGIT issuance. HMT issued a Preliminary Market Engagement Notice through the contract finder service. These publications provide further information on the scope of the pilot and seek views from potential suppliers and the financial services sector, to inform the development and delivery of DIGIT. This includes information on the current landscape of services available or in development in the UK and what potential investors want to see from a DIGIT issuance.
The market engagement exercise is the first step in our process. A formal tendering process is expected to be launched in late Spring 2025, with DLT suppliers being appointed by late Summer 2025.
The government bought forward secondary legislation at the end of the last year that will enable changes to be made to existing regulations relevant to issuing Government debt within the Digital Securities Sandbox (DSS). The current regulations may be unsuitable for a digital issuance and need to be temporarily modified to enable an issuance. Our market engagement is also intended to assist with understanding what elements of these laws need to be changed. Any necessary amendments will require HMT to lay a Statutory Instrument.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department has a planned timeline for the implementation of digital gilts; and when she expects to lay legislation before the House.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
On 18 March 2025, the Chancellor of the Exchequer launched the procurement process for the pilot Digital Gilt Instrument (DIGIT) issuance.
Following the announcement, HMT and UK Debt Management Office published the first step in the process, which seeks views from industry to inform the development and delivery of the pilot DIGIT issuance. HMT issued a Preliminary Market Engagement Notice through the contract finder service. These publications provide further information on the scope of the pilot and seek views from potential suppliers and the financial services sector, to inform the development and delivery of DIGIT. This includes information on the current landscape of services available or in development in the UK and what potential investors want to see from a DIGIT issuance.
The market engagement exercise is the first step in our process. A formal tendering process is expected to be launched in late Spring 2025, with DLT suppliers being appointed by late Summer 2025.
The government bought forward secondary legislation at the end of the last year that will enable changes to be made to existing regulations relevant to issuing Government debt within the Digital Securities Sandbox (DSS). The current regulations may be unsuitable for a digital issuance and need to be temporarily modified to enable an issuance. Our market engagement is also intended to assist with understanding what elements of these laws need to be changed. Any necessary amendments will require HMT to lay a Statutory Instrument.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the Department for Education:
To ask the Secretary of State for Education, what (a) financial and (b) other support her Department provides to teachers who retire unexpectedly due to ill health.
Answered by Catherine McKinnell - Minister of State (Education)
Teachers who are members of the Teachers’ Pension Scheme who suffer ill-health such that they are assessed as being unable to continue working up until their Normal Pension Age, equal to State Pension Age, can access their accrued pension benefits without the usual actuarial adjustment being applied in view of early payment. In the most serious cases, an enhanced pension is payable, which is 50% of their projected accrual to their Normal Pension Age.
The department does not employ teachers, and it is the employer’s responsibility to offer any appropriate additional support to its employees.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the Department for Education:
To ask the Secretary of State for Education, if she will make an an assessment of the adequacy of the length of time taken by Teachers' Pensions to process applications for remedial service statements.
Answered by Catherine McKinnell - Minister of State (Education)
The information held on the number of complaints is provided in the table below.
Year (January to December) | Complaints category: Delivery of Service |
2020 | 2,436 |
2021 | 3,243 |
2022 | 1,730 |
2023 | 3,203 |
2024 | 6,386 |
2025 (covers January and February) | 1,268 |
596,000 members of the Teachers’ Pension Scheme require Remediable Service Statements (RSSs), setting out member choices as part of the Transitional Protection remedy, for the age discrimination that was identified as part of the public service pension scheme reforms implemented under the previous government in 2015. Approximately 532,000 have been issued by the end of March 2025.
Departmental officials continue to work closely with the scheme administrator on plans to issue the remaining RSSs, as soon as is practical.
Where RSSs are taking longer to issue, affected members can be assured that any difference to pension in payment as a result of their remedy period choice is backdated to when the pension began, with interest applied.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the Department for Education:
To ask the Secretary of State for Education, what information her Department holds on the number of complaints made against the service provided by Teachers' Pensions in the last five years.
Answered by Catherine McKinnell - Minister of State (Education)
The information held on the number of complaints is provided in the table below.
Year (January to December) | Complaints category: Delivery of Service |
2020 | 2,436 |
2021 | 3,243 |
2022 | 1,730 |
2023 | 3,203 |
2024 | 6,386 |
2025 (covers January and February) | 1,268 |
596,000 members of the Teachers’ Pension Scheme require Remediable Service Statements (RSSs), setting out member choices as part of the Transitional Protection remedy, for the age discrimination that was identified as part of the public service pension scheme reforms implemented under the previous government in 2015. Approximately 532,000 have been issued by the end of March 2025.
Departmental officials continue to work closely with the scheme administrator on plans to issue the remaining RSSs, as soon as is practical.
Where RSSs are taking longer to issue, affected members can be assured that any difference to pension in payment as a result of their remedy period choice is backdated to when the pension began, with interest applied.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the Department for Education:
To ask the Secretary of State for Education, what assessment her Department has of the adequacy of the range of communication methods used by Teachers' Pensions to contact their customers.
Answered by Catherine McKinnell - Minister of State (Education)
Teachers’ Pensions employs a wide range of communication methods to contact members of the scheme, including via member portal, website, telephone contact centre, webchat, text messaging, post, email and social media platforms.
The department regularly reviews contractual performance via an established management process to ensure the best possible service is provided to members of the Teachers’ Pension Scheme.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the Home Office:
To ask the Secretary of State for the Home Department, whether she plans to introduce a nationwide policing strategy to prevent the theft of materials from charging stations.
Answered by Diana Johnson - Minister of State (Home Office)
Theft, including the theft of cables is a serious issue. This Government recognises the distress and disruption that theft and vandalism can cause, not only to businesses, but also to local communities and critical infrastructure.
The Home Office provided initial funding to establish the National Infrastructure Crime Reduction Partnership. The Partnership ensures national co-ordination of policing and law enforcement partners to tackle metal theft. It also provides training to police officers to help with tackling metal theft, and facilitates data and intelligence sharing to partners to target offenders and implement crime prevention measures.
The Home Office will also continue to support the extensive work undertaken by the British Transport Police in partnership with organisations such as Network Rail to further improve the enforcement response to metal theft. This includes supporting the Metal Crime Steering Group led by the National Police Chiefs Council lead for metal theft, Assistant Chief Constable Charlie Doyle, whose aim is to disrupt those involved in this area of crime.
The Scrap Metal Dealers Act 2013 was introduced to reduce metal theft by strengthening regulation of the scrap metal industry. Enforcement of the Act is key to reducing metal theft. Following the introduction of the Act, there was an overall downward trend in metal-related theft offences. The latest figures for the year ending March 2024 are 64% lower than in the previous year.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, whether her Department plans to require (a) technology and (b) telecommunication firms to contribute to the cost of (i) fraud prevention and (ii) the reimbursement of victims of fraud on their platforms.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Fraud is a costly crime for citizens, consumers, and businesses.
I welcome existing pledges to prevent fraud made by tech and telecoms firms.
At Mansion House, the Chancellor announced this government would work with tech and telecoms companies to stop their platforms and networks being exploited by criminals.
We are monitoring progress, including work on the second Telecommunications Fraud Sector Charter and implementation of the Online Safety Act.
To balance the requirement on Financial Services to reimburse victims of fraud, Section 72 of the Financial Services and Markets Act enables the sector to manage risk through due diligence checks before releasing payments.
The department will continue to work with the Home Office and Department for Science, Innovation and Technology to unlock further prevention efforts across all sectors in the forthcoming update to the fraud strategy.
Asked by: Mark Garnier (Conservative - Wyre Forest)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Bank of England on the Financial Services Compensation Scheme's compensation limit for (a) consumer and (b) business accounts.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
Eligible deposits held by UK banks, building societies and credit unions that are authorised by the Prudential Regulation Authority (PRA) are protected by the Financial Services Compensation Scheme up to £85,000, with joint accounts protected up to £170,000. This limit is set by the PRA and applies to both retail and business accounts.
The PRA is required to independently review the limit every five years and will be publishing a consultation on the outcome of its most recent review shortly. Any changes to the limit must be approved by the Treasury and the Government would carefully consider any changes proposed by the PRA.