"Those would be matters for the FCA. It would regulate the guidance and say how it should be implemented, and state the consequences if people are misguided in the process. The point about putting “must” into the Bill is to be clear that the rather basic duty to assess everybody’s …..." Crispin Blunt - View Speech
"I would be grateful if the Minister got it across to his Treasury colleagues that this is not just about ensuring that the guidance works; it is about the detailed regulations, as yet unavailable, for the products that will replace much of the annuity market and which companies will have …..." Crispin Blunt - View Speech
"There is a different set of issues, arising particularly out of EU Solvency II, but there is the same time scale and it is the PRA that is having to provide product regulation around this. That is not an issue for the Minister’s Department, but I just thought, as I …..." Crispin Blunt - View Speech
"I am grateful to my right hon. Friend for his answers. There will obviously be an ongoing debate about this issue. He is right to turn my own words round on me, when I made comments on the other Bill associated with these measures. I shall not seek to press …..." Crispin Blunt - View Speech
"I represent a significant number of providers in my constituency, including Legal and General, Partnership and Just Retirement, while Fidelity is also in this market to a degree. I am very concerned about the levy that is coming in to pay for the guidance, and about the difference between the …..." Crispin Blunt - View Speech
"I will take advantage of your invitation, Mr Deputy Speaker. I am not suggesting anything other than that the guidance is incredibly important—frankly, it needs to be closer to advice than guidance in its scale if it is to ensure that people are properly equipped to make such very difficult …..." Crispin Blunt - View Speech
"It is a pleasure to follow the hon. Member for Telford (David Wright), but judging from what he said about small businesses, he does not appear to have noticed that in previous Budgets under this Chancellor there have been changes to the tax and investment regimes that have been enormously …..." Crispin Blunt - View Speech
"The important change is that independent advice is now definitively independent advice—the era of relationships, commission and so on between financial advisers and providers has gone, and that is an important benefit...." Crispin Blunt - View Speech
"Thousands of people in my constituency work in this industry, from the blue-chip leaders working for Legal & General and for Fidelity to those working for two companies that have led the way in innovative products, namely Partnership and Just Retirement, whose share prices took a hammering yesterday because of …..." Crispin Blunt - View Speech