To ask the Chancellor of the Exchequer, what discussions he has had with banks on ensuring that there is provision to address unresolved banking complaints following the planned closure of the Business Banking Resolution Service in December 2023.
26 January 2023
The Business Banking Resolution Service (BBRS) is an independent non-governmental body that does not receive any public funding.
The Government has always been clear that the independence of the BBRS is vital, and as such it is not appropriate for the Government to comment on its future. According to the timelines agreed by the BBRS when it was set up, the scheme for historical complaints will close on 14 February 2023, while the contemporary scheme for cases from large SMEs is due to close at the end of 2023 unless an extension is granted by participating banks.