Election 2017  

Financial Advice Market Review's future in jeopardy

Financial Advice Market Review's future in jeopardy

The minister responsible for the Financial Advice Market Review lost his seat in Parliament in yesterday’s general election.

Simon Kirby, the Economic Secretary to the Treasury, lost his Brighton Kemptown seat to his Labour opponent.

His was one of 13 seats which the Conservative Party lost in the snap election which resulted in the party losing its majority in the House of Commons.

Mr Kirby had been appointed by Theresa May when she became Prime Minister in July last year.

As well as FAMR, he was also responsible for the pensions dashboard as well as retail financial services and the asset management industry more generally.

Another Treasury minister to lose their seat was Jane Ellison, the Financial Secretary to the Treasury.

She also lost her Battersea seat to the Labour Party.

Ms Ellison was responsible for oversight of the British tax system and customs policy.

Meanwhile Gavin Barwell, the housing minister, lost his Croydon Central seat to the Labour Party.

Mr Barwell had been responsible for the government’s housing white paper, which was published earlier this year.

The paper had proposed a number of measures to tackle the “broken” housing market.

These included forcing councils to produce plans for housing demand, encouraging the extension of buildings upwards in urban areas and a £3bn fund to help smaller building firms.

damian.fantato@ft.com