Question to the Foreign, Commonwealth & Development Office:

To ask the Secretary of State for Foreign, Commonwealth and Development Affairs, with reference to the Blueprint for Action report entitled Remittances in crisis: Response Recovery Resilience, published November 2020, what discussions he had at the G7 on the recommendation that financial institutions should increase access to clear information on the total costs of sending and receiving remittances.

The Secretary of State covered many pressing areas in his discussions with counterparts during the G7 Leaders' Summit and G7 Foreign and Development Ministerial meetings (including on vaccines, climate, girls' education, and open societies).

The G7 Foreign and Development Ministers agreed to take concrete actions to address priority development finance challenges in line with the 2030 Agenda for Sustainable Development (which covers remittances). Remittances is reflected in Sustainable Development Goal 10.c which aims to reduce to less than 3 per cent the transaction costs of migrant remittances and eliminate remittance corridors with costs higher than 5 per cent by 2030.