Robin Swann

Robin Swann

Ulster Unionist Party — South Antrim

Speaking in the House of Commons on 10 November 2026

Debate

Financial Services and Markets Bill [Lords]

Contribution

The hon. Lady is correct in some of her assertions on this matter, because correcting this legislative anomaly has not been on the Executive’s agenda. I do not think it will be on their agenda even after the election coming in May. This vehicle—this piece of legislation—does provide the solution for those who need affordable car insurance in Northern Ireland more so than in other parts of the United Kingdom. Extending the FCA’s regulatory remit to Northern Ireland is a vital, practical step to properly govern those firms. It will prevent exploitative practices and bring much-needed fairness to our local insurance market. While various factors contribute to higher insurance costs in Northern Ireland, closing that regulatory gap, which the Bill will be able to do, will actually make a tangible difference. As the Economic Secretary will see, there is support for such a measure across the Northern Ireland parties. It has also been brought in the other House, too. I hope she will listen, and meet me to explore this anomaly and bring about the solution.

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