Sir Julian Lewis

Sir Julian Lewis

Conservative — New Forest East

Speaking in the House of Commons on 26 March 2026

Debate

National Savings & Investments

Contribution

I thank the Minister for making this statement today, and welcome the appointment of Sir Jim Harra, who did indeed have an excellent record at the head of HMRC, as interim chief executive. I think we ought also to have a word of praise for the consumer affairs team at The Daily Telegraph, who have drawn welcome attention to unwelcome statistics, such as £116 million in unclaimed premium bond prizes, £3 billion spent on digitisation and £43 million spent on consultants for doing we know not what. Given that the Financial Ombudsman Service can award only token sums by way of compensation for maladministration, can the Minister assure NS&I savers that, when it comes to the question of compensation that must be paid to them by NS&I, there will be some dedicated method whereby those who are already severely out of pocket can have speedy resolution of their claims and recompense?

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