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Financial Guidance and Claims Bill [HL] - Report (1st Day)

Part of the debate – in the House of Lords at 5:45 pm on 24th October 2017.

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Photo of Lord Young of Cookham Lord Young of Cookham Lord in Waiting (HM Household) (Whip), Lords Spokesperson (Cabinet Office) 5:45 pm, 24th October 2017

Perhaps I can reassure the noble Lord, Lord McKenzie. Of course, the SFGB is going to work closely with the FCA and the Treasury on issues regarding financial inclusion. As I said, we envisage a partnership, with the FCA promoting access and the SFGB promoting capability; this is where the two meet. We do not see the SFGB leading on inclusion in the way in which it will be leading on financial capability. This is why we have difficulty with the particular amendment that the noble Lord has put forward.