Treasury Committee

24 juin 2026

Sommaire mis à jour le 24 juin 2026

The Chair opens the Treasury Committee hearing on consumer finance, examines the Chancellor’s ISA reform proposals and first-time buyer impacts, and then broadens to initial concerns about the Financial Services and Markets Bill’s potential to weaken consumer protection in favour of growth.

Committee mer. 24 juin 2026 Début réel 15:00 House of Commons

21:49 - 23:44

Intervenant 1

Order, order. Welcome to the Treasury Select Committee on Wednesday the 24th of June 2026.

We're here today to talk about consumer finance, an area of interest to the committee and I know to a lot of people out in the country. And I'm delighted to welcome four experts on consumer finance. And I should say that the feedback and input we get from these witnesses helps us question the government on its policies on a number of areas relating to consumers. And I'm delighted to welcome with us in the room today James Daley, who's the managing director of Fairer Finance, and Rocio Concha, who's the director of policy and advocacy and the chief economist at Which?, the consumer organisation.

And online we're joined by Janine Rennie, who's the chief executive of Money Advice Scotland, and Anne Pardoe, who's the head of policy at Citizens Advice. So a very warm, as it were, welcome to all today. Before we go into some of the other areas that we'd hope to discuss, it's quite timely that you're in front of us today because we received a letter from the Chancellor yesterday about the proposed changes to ISAs following on from last autumn's budget, when the government announced it was changing the cash ISA allowance from 20,000 to 12,000 and allowing 8,000 pounds, so keeping the 20,000 envelope, but 8,000 of which would have to be, if you reached the top of that envelope, in an investment ISA. And there's been a lot of discussion about how that would work.

The Chancellor set out in a letter to us the detail of how that would work. And I just really wanted to know, you know, if you what you thought about this issue about cash-like investments in stocks and shares and this proposal to introduce a charge on interest paid in them and whether really what conversations you may have had with the Treasury on this. So can I start with you, Janine Rennie?

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