Gift Vouchers - Question

Part of the debate – in the House of Lords at 3:07 pm on 22nd January 2020.

Alert me about debates like this

Photo of Lord Duncan of Springbank Lord Duncan of Springbank Parliamentary Under-Secretary (Northern Ireland Office), Parliamentary Under-Secretary (Department for Business, Energy and Industrial Strategy) 3:07 pm, 22nd January 2020

The noble Lord clearly has kind friends who give him Greggs vouchers and Waterstones vouchers: food for the heart and for the mind. At present, some £300 million in gift vouchers per year is unclaimed out of a £6 billion retail offering. Quite often they are lost—they have not been redeemed because they have simply been misplaced. I do not have the figures, and I do not believe the figures have been gathered, on those who come from low-income families, but I recognise that this is still 5% of the overall market, which is way too high. We need to find a way to ensure that the value of these products is not lost, particularly when low-income households are affected.