A Treasury minister for the new Labour government has refused a request to bring forward rules combatting financial discrimination against cancer survivors.
However, economic secretary to the Treasury Tulip Siddiq (pictured) said the party was committed to improving financial inclusion and would continue working with regulators to do so.
The issue was raised by newly-elected Ulster Unionist MP for South Antrim Robin Swann who asked if the government planned to bring forward proposals to counter financial discrimination against cancer survivors.
Responding for the government, Siddiq said the government recognised the importance of access to useful and appropriate financial products and that it worked closely with the Financial Conduct Authority (FCA) to ensure that customers were treated fairly by firms.
However, she stopped short of agreeing to introduce rules to directly support cancer survivors.
“While the pricing and availability of financial services and products is a commercial decision for firms, FCA rules require the price a consumer pays for a product or service be reasonable compared to the overall benefits they can expect to receive,” she said.
“The FCA also expects that customers get the right support with their financial products, particularly where their personal circumstances, including health conditions, may make them more susceptible to harm.
“The government is committed to improving financial inclusion and will continue to work with regulators, firms, and the third sector to this end.”
