Question to the HM Treasury:

To ask the Chancellor of the Exchequer, what discussions she has had with the Financial Conduct Authority on ensuring that people with disabilities and without access to mobile phones are not excluded from accessing online quotations and other financial services that require a mobile phone number.

The Government works closely with the Financial Conduct Authority (FCA), the independent regulator of the UK’s financial services sector, to ensure that all customers get the right support with their financial products and services.

FCA guidance highlights the actions firms should take to understand the needs of customers who may be vulnerable, such as individuals with a disability, and to consider these needs appropriately. Specifically, the guidance sets out that firms should offer multiple channels of communication to their customers where possible and should ensure these meet the needs of their customers, including individuals with characteristics of vulnerability.

The FCA also introduced the Consumer Duty in July 2023 which raises the standard of care expected from firms for all customers, including those who may be vulnerable. It aims to deliver products and services that offer fair value and are designed to meet customers’ needs and seeks to increase firms’ focus on delivering good outcomes and preventing harm.

In addition, under the Equality Act 2010, all service providers must make reasonable adjustments to ensure their services are accessible to all.

More widely, ensuring all individuals have access to the appropriate financial products and services they need is a key priority for Government. I published the Government’s Financial Inclusion Strategy on 5^th November, which was developed alongside a Committee of consumer and industry representatives, including the FCA, and sets out a range of interventions to improve financial inclusion for underserved groups across the UK. This includes a focus on the issues of digital inclusion and access to banking, and considers accessibility as a key theme throughout, in recognition of the particular challenges individuals can face in relation to this.