Question to the HM Treasury:

To ask the Chancellor of the Exchequer, pursuant to the Answer of 15 July 2022 to Question 34831 on NatWest Group: Child Trust Fund, what recent discussions his Department has had with representatives of the Financial Ombudsman Service on complaints regarding NatWest Junior ISA accounts, in the context of the Government's majority stake in NatWest Group.

Treasury ministers and officials engage with stakeholders on a variety of issues. However, the Financial Ombudsman Service (FOS) is an independent non-governmental body. The independence of the FOS underpins its credibility, authority and value to consumers. Although the Government discusses a range of issues with the FOS it does not therefore seek to intervene in its decision making.

The Government also no longer holds a majority stake in NatWest Group and manages its shareholding at arm’s length on a commercial basis through UK Government Investments Ltd (UKGI). UKGI's role is to manage the investment, not the bank itself. NatWest Group retains its own independent board and management team for strategic and operational decisions.