Asked by: Matt Bishop (Labour - Forest of Dean)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, if she will take steps to ensure that (a) self-employed people and (b) employees are not subject to higher taxation on both their earnings and state pension.
Answered by James Murray - Exchequer Secretary (HM Treasury)
At Autumn Budget 2024 we made no changes to the rates of income tax, which means employed and self-employed people will see no increase in the rate of income tax that apply to their earnings or state pension income.
Asked by: Matt Bishop (Labour - Forest of Dean)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps she is taking to help improve access to travel insurance for patients with long-term illnesses.
Answered by Tulip Siddiq
The government is determined that everyone has access to suitable insurance products at the right price.
The Financial Conduct Authority (FCA) is the independent body responsible for regulating and supervising the financial services industry, including firms providing travel insurance. Under FCA rules, insurers must offer products that provide fair value. This means that the price a consumer pays for a product or service must be reasonable compared to the overall benefits they can expect to receive. The FCA has robust powers to act against firms that fail to comply with its rules.
Under FCA rules introduced in 2021, if a travel insurance customer is declined cover, offered cover with an exclusion, or charged a significantly higher premium based on their pre-existing medical condition, insurers are required to signpost consumers to a directory of specialist providers who may be better placed to provide cover.