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Written question asked by Gavin Robinson (Democratic Unionist Party) on Wednesday, 18 November 2020, in the House of Commons. It was due for an answer on Monday, 23 November 2020 (named day). It was answered by John Glen (Conservative) on Monday, 23 November 2020 on behalf of the Treasury.

Funerals: Pre-payment

Question

To ask the Chancellor of the Exchequer, whether he has made an assessment of the potential merits of delaying plans to bring funeral plan providers under the remit of the Funeral Planning Authority in the context of the covid-19 outbreak.

Answer

The government is committed to strengthening regulation of the pre-paid funeral plan sector. As part of the Budget, and following consultation, the Chancellor announced the government’s intention to legislate to bring pre-paid funeral plan firms within the remit of the Financial Conduct Authority (FCA). This will ensure that, for the first time, all firms offering pre-paid funeral plans are subject to compulsory and robust regulation.

The government intends to lay the necessary legislation very soon. Once this legislation is made, there will be an implementation period before the new regulatory framework comes fully into force. This will allow time for funeral plan providers and firms which sell plans to take the necessary steps to meet the new regulatory requirements.

Secondary information

Type
Written question
Reference
117274
Session
2019-21
Subjects
Disease control Funerals Regulation Pre-payment Coronavirus
Link
View this Written question on www.parliament.uk