Treasury written question – answered on 17th January 2023.
Nick Smith
Labour, Blaenau Gwent
To ask the Chancellor of the Exchequer, when the Treasury were first made aware of the financial risk posed by Safe Hands Plans funeral scheme.
Andrew Griffith
The Economic Secretary to the Treasury
During a wide-ranging meeting with industry in July 2017 to discuss pre-paid funeral plans, some concerns about Safe Hands Plans were raised with HM Treasury.
In response, officials advised that such concerns should more properly be reported to the Financial Conduct Authority, reflecting the fact that HM Treasury has no investigatory or enforcement powers of its own.
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