Personal Savings

(asked on 14th January 2021) - View Source

Question to the Department for Business, Energy and Industrial Strategy:

To ask the Secretary of State for Business, Energy and Industrial Strategy, what steps he is taking to provide statutory protections for people putting money in Christmas savings clubs.


Answered by
Paul Scully Portrait
Paul Scully
This question was answered on 22nd January 2021

In December 2018, the Government set out in its response to the Law Commission prepayment report, ‘Consumer Prepayments on Retailer Insolvency’ that it intends to develop proposals to create a power to create sector specific legislation on pre-payments to enable action on Christmas savings clubs. The Government is considering the most practical route to formulate and implement this legislation.

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