§ Mr. EdwardsTo ask the Secretary of State for Trade and Industry what assessment she has made of the Financial Services Authority proposals regarding polarisation in the provision of financial services; if she will ask the Social Exclusion Unit to assess the report in terms of its impact on people on low incomes; and if she will make a statement. [40712]
§ Ruth KellyI have been asked to reply.
The proposals in CP121 to reform the polarisation regime for the distribution of financial service products are a matter for the FSA. They are subject to consultation and the government would encourage all those with views to look at the consultation paper and supporting research reports, and let the FSA have their views by 19 April. Any proposals the FSA brings forward following consultation will be subject to detailed cost benefit analysis.