Treasury Response to Swann’s Call to End Cancer Survivor Discrimination Disappointing

In response to questioning by Robin Swann MP, a UK Treasury minister has reaffirmed her party's commitment to improving financial inclusion for all and their desire to continue working with regulators to do so, but has refused to introduce new rules which would protect cancer survivors from financial discrimination. 

In her response to Mr Swann, Tulip Siddiq MP, Economic Secretary to the Treasury, said:

“While the pricing and availability of financial services and products is a commercial decision for firms, [Financial Conduct Authority] rules require the price a consumer pays for a product or service be reasonable compared to the overall benefits they can expect to receive.”

Following this response, Robin Swann MP commented:

“Unfortunately, even after receiving the ‘all-clear,’ cancer survivors still face financial discrimination. Many survivors, including those cancer-free for decades, still face higher insurance rates and mortgage rejection. A recent QUB study highlighted that cancer survivors can often be expected to pay as much as 20% more than the general population.

“I welcome the Government’s commitment to improving financial inclusion for everybody, but I am disappointed that specific rules that would protect cancer survivors will not be committed to by this government.

“I am urging the UK Government to introduce new rules which will financially protect and support our cancer survivors.”