Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to Answer of 17 January 2023 to Question 120941 on 17 January 2023 on Safe Hands Plans: Finance, what assessment he has made of the potential implications for his policies of the Financial Conduct Authority's response to concerns raised by his Department regarding Safe Hands Funeral Plans; and whether he will publish his Department correspondence with the Financial Conduct Authority on that issue.

Safe Hands Plans went into administration in March 2022. The government understands that this situation is very concerning for customers of Safe Hands.

Since being made aware of misconduct across the funeral plan sector in 2017, the government and Financial Conduct Authority have dedicated significant resource to regulate the sector fully. This has ensured that those trying to make financial arrangements for their funerals now have the right regulatory protections.

The government’s work to bring pre-paid funeral plans into regulation has ensured that – for the first time – 1.6 million funeral plan consumers are protected from poor practice within the sector. Because of the action taken, it is now a criminal offence to sell pre-paid funeral plans without FCA authorisation.