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Safe Hands Funeral Plans
12 May 2022
Lead MP
Margaret Ferrier
Debate Type
Adjournment Debate
Tags
Economy
Other Contributors: 1
At a Glance
Margaret Ferrier raised concerns about safe hands funeral plans in the House of Commons. A government minister responded. Other MPs also contributed.
How the Debate Unfolded
MPs spoke in turn to share their views and ask questions. Here's what each person said:
Lead Contributor
Opened the debate
The MP highlighted the collapse of Safe Hands Funeral Plans, which has left thousands of policyholders in uncertainty. She detailed how her constituent Patrick Hughes had lost a significant amount after investing £6,300 in a plan that was supposed to provide peace of mind for his family's funeral expenses. The company’s administration and failure to regulate under the Financial Conduct Authority (FCA) have led to a lack of clarity and support from administrators. She praised Dignity plc for stepping up temporarily but expressed concern over ongoing uncertainty and the need for more substantial government action to protect future customers.
Paul Maynard
Con
Blackpool North and Cleveleys
The MP supported the debate, highlighting concerns about other firms potentially exiting before FCA regulation takes effect. He expressed worry about Dignity's capacity to cope with demand and urged for more state support through an accelerated no-interest loan scheme.
Government Response
The Minister acknowledged the importance of the debate and thanked all contributors. He commended Dignity plc for providing funeral services for Safe Hands' customers for six months, expressing regret over the lack of clarity for those affected. The FCA's support in finding a long-term solution was noted, along with the introduction of new regulations to ensure better consumer protection from 29 July. The Government has introduced an 18-month transition period and made it easier for funeral plan providers exiting the market to transfer plans to regulated providers. He discussed ongoing work on affordable credit through pilot schemes like low-interest loans, aiming to provide financial stability to those facing unexpected costs.
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Assessment & feedback
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About House of Commons Debates
House of Commons debates take place in the main chamber of the House of Commons. These debates cover a wide range of topics including government policy, legislation, and current affairs. MPs from all parties can participate, question ministers, and hold the government accountable for its decisions.