"The right hon. Gentleman was a Treasury Minister for some duration, so he brings experience on these issues. He is right to say that, when it comes to an Executive agency such as this one, Ministers’ job is to receive assurance and provide strategic direction, so let me just say …..." Torsten Bell - View Speech
"My hon. Friend is completely right. I am sure that she speaks for many people today. The experience of administering estates is challenging for us all at the best of times, and it is of deep regret to me—and, I am sure, to everyone at NS&I—that we are putting anybody …..." Torsten Bell - View Speech
"Let me try to take the right hon. Member’s questions in turn. I would think of compensation as two buckets. There will be automatic compensation relating to the withholding of funds. The FCA provides guidance on how that should be administered, and we will ensure that is put in place …..." Torsten Bell - View Speech
"I am sure that many Members across the House, and many people across the country, share my hon. Friend’s experience of early engagement with NS&I. The brand has very high awareness and support for exactly the reasons he gives. On his question about an assurance that there will be change, …..." Torsten Bell - View Speech
"My hon. Friend is absolutely right that administering the affairs of deceased family members or friends is always challenging, both emotionally and administratively. That is why it is so important that we get this right, now that we have set out the scale of the problem. On his specific question, …..." Torsten Bell - View Speech
"I would like to make a statement regarding National Savings & Investments. On 18 December 2025, NS&I notified the Treasury of an operational failure to comprehensively trace accounts for some customers who had passed away. The result of that failure is that not all savings were identified by NS&I and …..." Torsten Bell - View Speech
"I welcome the tone of the shadow Minister’s remarks. I obviously absolutely agree with him that customers deserve better and they deserve reassurance. I have tried to provide that today by setting out what we are doing, and giving everybody reassurance that their savings are 100% safe and are guaranteed …..." Torsten Bell - View Speech
"As always, I thank my hon. Friend for his important question. He is absolutely right—the priority for us is to ensure that people are reunited with their money and that they do not incur costs in trying to get it back. That is why I have been so clear with …..." Torsten Bell - View Speech
"I thank the hon. Member for his questions —let me try to do justice to them. He is completely right that one of the reasons customers choose NS&I is that they trust the institution, but they also know that it has that 100% Government backing. It is important that we …..." Torsten Bell - View Speech
"My hon. Friend is absolutely right to talk about the anxiety that I am sure some people will be feeling, but it is more than that: we are talking not just about any old savings, but about bereavement cases. We do not want issues to be dragged back up in …..." Torsten Bell - View Speech