Black Friday: Financial Products — [Mr Laurence Robertson in the Chair]

Part of the debate – in Westminster Hall at 3:36 pm on 23rd November 2021.

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Photo of Stella Creasy Stella Creasy Labour/Co-operative, Walthamstow 3:36 pm, 23rd November 2021

I thank the Minister for letting me intervene. He will understand that I am a little troubled because when the Woolard review said in February that there was an urgent need for regulation, we all agreed that urgency, as well as regulation, was a critical part of that conversation. Does he accept that in the absence of such regulation, one thing that we now need to tell people —it is on his list—is that they cannot go to the Financial Ombudsman Service if they feel they have been mis-sold a product? At the very least, in the intervening time before any regulation comes forward, the Government have a duty to ask retailers and companies to make that clear to people—a buyer beware warning. Does he at least accept that the Government should be doing that this Christmas?