Asked by: Melanie Ward (Labour - Cowdenbeath and Kirkcaldy)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, what steps her Department is taking to help tackle ageism in the provision of financial services.
Answered by Emma Reynolds - Economic Secretary (HM Treasury)
The Government works closely with the Financial Conduct Authority (FCA), the independent regulator of the UK’s financial services sector, to ensure that all customers get the right support with their financial products and services. The FCA requires firms to provide a prompt, efficient, and fair service to all of their customers.
Ensuring individuals have access to appropriate financial products and services is also a key priority for the Government. This is why I have committed to publish a Financial Inclusion Strategy later this year which will seek to tackle a range of barriers consumers can face in accessing the products they need.
Additionally, the Equality Act 2010 generally prohibits discrimination based on certain protected characteristics, including age. There are some limited exceptions to this. For example, insurance providers cannot refuse to cover potential consumers or charge more for insurance as a result of age, unless they base their risk assessment on relevant information from a reliable source.
Asked by: Melanie Ward (Labour - Cowdenbeath and Kirkcaldy)
Question to the HM Treasury:
To ask the Chancellor of the Exchequer, pursuant to the Answer of 30 July 2024 to Question 1887 on Tax Avoidance, when she plans to provide an update on her policy on the loan charge.
Answered by James Murray - Exchequer Secretary (HM Treasury)
I know that the loan charge is an extremely important issue for many members and their constituents.
I have met with campaigners to discuss the loan charge, and the Chancellor and I are considering this matter further. We will provide an update in due course.