Funerals: Pre-payment

Treasury written question – answered on 30th October 2019.

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Photo of Gregory Campbell Gregory Campbell Shadow DUP Spokesperson (International Development), Shadow DUP Spokesperson (Cabinet Office)

To ask the Chancellor of the Exchequer, what the timeframe is for publishing the outcome of his Department's consultation on a policy proposal for the regulation of pre-paid funeral plans.

Photo of John Glen John Glen Minister of State (Treasury) (City), The Economic Secretary to the Treasury

HM Treasury launched a call for evidence on the regulation of pre-paid funeral plans in June 2018. The call for evidence confirmed that consumer detriment is present in the pre-paid funeral plan sector and that there is broad demand for the sector to come under compulsory regulation.

Consequently, the government intends to bring the pre-paid funeral plan market within the remit of the Financial Conduct Authority and has consulted on the proposed legislative framework to implement this proposal. The consultation closed on 25 August and the government is currently reviewing the responses. A response to the consultation will be published in due course.

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