Financial Ombudsman Service Decisions Cost of Implementation 2023-06-20
2023-06-20
TAGS
Response quality
Questions & Answers
Q1
Partial Answer
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Context
The issue of costs associated with Financial Ombudsman Service decisions has been a long-standing concern in the House.
Whether he has held discussions with banks on the costs of implementation of Financial Ombudsman Service decisions. This has been an ongoing issue in the House for some time, and I spoke to some of the Minister's colleagues beforehand. The Chancellor and the Minister will know that the parliamentary ombudsman found that 1 million Equitable Life savers lost money as a direct result of Government decisions.
I respect the hon. Member for raising this issue. It has however, been raised many times before in this House, and answered from this Dispatch Box as well.
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Assessment & feedback
The specific question about why the Government is holding themselves to a different standard regarding Equitable Life savers was not directly addressed.
It Has However, Been Raised Many Times Before In This House, And Answered From This Dispatch Box As Well.
Response accuracy
Q2
Partial Answer
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Context
The issue of costs associated with Financial Ombudsman Service decisions has been a long-standing concern in the House. The parliamentary ombudsman found that 1 million Equitable Life savers lost money as a direct result of Government decisions.
Why are the Government holding themselves to a different standard and ignoring the wishes of the parliamentary ombudsman, having paid victims of the Equitable Life scandal only 22% of the money they lost from their pension funds?
I respect the hon. Member for raising this issue. It has however, been raised many times before in this House, and answered from this Dispatch Box as well.
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Assessment & feedback
The specific question about why the Government is holding themselves to a different standard regarding Equitable Life savers was not directly addressed.
It Has However, Been Raised Many Times Before In This House, And Answered From This Dispatch Box As Well.
Response accuracy