Asked by: Nick Smith (Labour - Blaenau Gwent)
Question to the HM Treasury:
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.
Answered by Andrew Griffith - Minister of State (Department for Science, Innovation and Technology)
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.